The Condominium Management Regulatory Authority of Ontario (“CMRAO”) is seeking public comment on proposed licensing fees for condominium managers and condominium management firms.
The proposed annual license fees for individual condominium managers will be $607 for a general licence and a transitional general licence and $379 for a limited licence. (Click here to read our prior blog post that describes the various classes of licence.) While individual managers are responsible for paying these fees, they can be reimbursed by the management firm which employs them, if the firm chooses to do so.
The proposed annual licence fee for condominium management firms is a base fee of $799, plus $350 for each licensed manager employed by the firm, which is to be paid by the management firm, not the individual licensed managers. If an individual licensee leaves the firm after the annual fee has been paid, there will be no refund or transfer of the per licensee fee paid for that year. The per licensee fee is intended to create fairness among various sized firms.
As the CMRAO is a non-profit corporation that is responsible for administering the new Condominium Management Services Act, the licensing fees it collects will be its primary source of revenue to cover its operating costs. The fee model was based on a conservative estimate of 2,000 condominium managers and 300 condominium management firms. It is expected that 50% of the operating costs will come from individual managers and 50% from management firms. CMRAO will be developing a web-based application and payment process in order to reduce staffing requirements and make the licensing process cost-effective.
It is expected that the licensing requirements and CMRAO’s operations will start on November 1, 2017.
Comments on the proposed fees can be submitted up to August 10, 2017 by responding to an online survey. Click here to access CMRAO’s website and the online survey.