Buying a condo in York Region, Uxbridge or Simcoe County? The unit is only half the purchase.
Apartments, stacked towns, condo townhouses and POTLs look different, but every one comes with a corporation, a budget, a reserve fund and rules. Before your status certificate condition comes off, I give you a written Condo Decision Brief on what you’re buying into. Your lawyer gives the legal opinion.
Matthew Gizzie, REALTOR®, Keller Williams Realty Centres, Newmarket. I live in Uxbridge and work with buyers in Newmarket, Aurora and across York Region, and in Simcoe County communities including Bradford and Barrie.
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What kind of condo is it? Apartment, townhouse, stacked town or POTL
In York Region and Simcoe County, many “condos” are townhouses. Some buyers only learn that a freehold-looking townhouse comes with a monthly fee and a condo corporation when the listing paperwork arrives. Five things you’ll see, and the one question each raises.
- You: the interior
- Corporation: structure, common areas
- Check: windows, in-unit systems
- You: the interior
- Corporation: often the exterior, roof and land
- Check: windows, driveway, patio
- You: the interior
- Corporation: structure, shared floors and services
- Check: what sits above and below you
- You: the house and the lot
- Corporation: road, visitor parking, park
- Check: the exact split and any registered agreements
- You: everything, including the roof you share a wall under
- Check: any shared-wall or mutual driveway agreement
How to tell: a condo unit’s legal description names a unit, a level and a condominium plan number. A POTL’s legal description is a freehold lot plus a common interest in a common elements condominium corporation. Your lawyer confirms this on title. Ontario also has phased, vacant-land and leasehold condominium corporations. If one appears in a property you’re considering, I flag it, because the ownership and due-diligence issues can differ.
Why the type matters before you offer
The type decides which offer form I use, whether a status certificate condition belongs in the offer, how your lender treats the fee, and whose insurance covers what. It also shapes what you can do with the home. With a POTL you generally own and maintain the house itself, but the declaration, by-laws, rules and any registered agreements still need to be checked before assuming a change is unrestricted. A condo townhouse owner often cannot change the exterior at all.
What condominium ownership structures have in common
- A corporation with a board, a budget and an auditor
- A reserve fund for major repairs, and a reserve fund study at least every three years
- A declaration, by-laws and rules you agree to by buying
- A status certificate you can request for the unit
The freehold townhouse in the comparison has none of these. It is there only to show the difference.
What is a status certificate, and how the condition works
A status certificate is the condo corporation’s written statement about the unit and the corporation: finances, rules, insurance, legal matters and the reserve fund. Section 76 of the Condominium Act sets what it must contain. It binds the corporation, as against a purchaser who relies on it, for the information it contains. That is why your offer is normally conditional on it.
The corporation must provide the certificate within 10 days of receiving the request and payment. Rush service for a higher fee is allowed, but the 10-day option must stay available.
The most a corporation can charge, including all taxes and materials. Set by Ontario Regulation 48/01.
Lists what the certificate must include. Failure to properly disclose an increase or assessment may prevent the corporation from later collecting it from a purchaser who relied on the certificate.
What’s in the package
- The declaration, by-laws and rules
- The current budget, the last audited financial statements and the auditor’s report
- A statement on the most recent reserve fund study and the state of the reserve fund
- The unit’s common expenses, and whether the unit is in arrears
- Any increase in common expenses since the budget, and why
- Any special assessment charged to the unit since the budget, and why
- The certificate of insurance for the corporation’s policies
- Outstanding judgments against the corporation, and any ongoing litigation
- The directors and officers, and their addresses for service
The full reserve fund study and meeting minutes are not guaranteed to be in every package. When they aren’t, the brief says so, and we ask whether they can be obtained before you waive.
Two reviews, one decision
Your lawyer’s review is the legal opinion: what the documents mean, what binds you, and what to confirm with the corporation. It is the review you rely on to waive.
The Condo Decision Brief is the practical read: what the package means for your costs, your plans for the home and your resale, and the specific questions it raises for your lawyer.
Neither replaces the other. If something material comes up, we decide together: ask questions, renegotiate, or not proceed under the condition.
The Condo Decision Brief: what I check in the package
On every resale condo purchase where we receive a status certificate, I read the package and give you a one-page written summary of the practical buyer issues, before your condition expires. It is not a legal opinion. Ten things, each marked with what I found, what to ask your lawyer, or what wasn’t provided.
The fee, and its history
This year’s fee, and the history available from the status package, financial statements and listing history. Normalsteady increases that track the budget. Aska fee flat for years while costs rose, or a jump that isn’t explained.
The current budget and anticipated increases
Whether this year’s budget balances, and whether the certificate discloses a planned or contemplated increase. Aska deficit, or an increase mentioned elsewhere but not in the certificate.
The reserve fund against the study
The reserve fund information in the package: study date, balance, contributions and funding-plan notice. When the full study is provided, I compare its projections and upcoming expenditures against the fund. A low balance is not a red flag on its own; contributions below the plan are. Not providedif the full study is missing, ask whether a copy can be obtained.
Special assessments
Any assessment charged since the budget, the reason, and whether it is paid. Askan assessment mentioned anywhere but not stated clearly in the certificate.
Major capital work coming up
Roofs, windows, garages, elevators, boilers. What the funding-plan notice and, where provided, the study say is due in the next five years, and whether the fund covers it. Askwork due soon with no funding shown.
Litigation and judgments
Any judgment against the corporation and any ongoing proceedings, including Condominium Authority Tribunal cases. Askconstruction-deficiency claims against a builder, and any claim the corporation’s insurance may not cover.
Insurance and the deductible
What the corporation’s policy covers, the deductible, and what the declaration or by-laws pass down to the owner when damage starts in a unit. Aska high water-damage deductible, and whether your own policy needs to cover it.
Rules that change your plans
Pets, rentals and short-term rentals, renovations, flooring, barbecues, EV charging and work vehicles, compared with what you told me you want to do with the home. Askany rule that blocks a plan you have.
Parking and locker: owned or exclusive use
Whether the spot and locker are units you own, exclusive-use common elements assigned to your unit, or rented from the corporation. Aska spot described one way in the listing and another in the certificate.
Anything unusual
Shared-facility agreements with a neighbouring building, leased land, a declaration amendment under way, a manager change, or minutes that read differently from the certificate. Each one becomes a specific written question for your lawyer.
Not a real building, unit or client. Figures and findings are for illustration only.
Every line shows its source, and every gap is named
- The status certificate and everything attached to it
- The reserve fund study and funding-plan notice, where provided
- Board and owners’ meeting minutes, where provided
- The CAO Condo Registry and Tribunal decisions
- The listing, compared line by line with the certificate
Anything material that isn’t in the package is marked “Not provided / not confirmed”, so you and your lawyer can see exactly what is known and what remains to be asked.
Want this on your next condo purchase? A 15-minute call is the first step. No obligation.
Request a 15-minute buyer callWhat condo fees include, and how lenders count them
Buyers compare fees by the dollar amount. That is the wrong comparison. A $700 fee that includes heat, water, building insurance and the exterior is not automatically worse than a $450 fee that includes none of them. Read the budget to see what the fee buys, then compare the total monthly cost of owning.
- Reserve fund contribution. Your share of future major repairs.
- Building insurance. You still need your own unit policy.
- Utilities included. Often water; sometimes heat or hydro.
- Exterior and grounds. Roof, windows, snow, landscaping, the private road on a POTL.
- Management and amenities. Staff, gym, pool, elevator contract.
The actual allocation varies by corporation. The budget in the status package shows the real one, including how much goes to the reserve fund. Read it the same way.
You still pay the full $700 every month. The 50% rule applies only to CMHC’s mortgage qualification calculation, not to your actual ownership costs.
The CMHC rule. For an insured mortgage, 50% of applicable condo fees are included in your gross debt service (GDS) and total debt service (TDS) ratios. CMHC’s limits are 39% GDS and 44% TDS.
What that means. Under CMHC’s calculation, a $700 monthly condo fee contributes $350 per month to the housing costs used in the GDS and TDS calculation.
Lenders vary. Insurer and lender policies differ, and uninsured mortgages follow the lender’s own rules. Your mortgage professional confirms the treatment for your application. Run it in the affordability calculator.
Compare the total, not the fee
- Check what share of the fee goes to the reserve fund. A fee that is low because the reserve contribution is thin is borrowing from future owners, possibly you.
- Read the fee history in the audited statements and the certificate. The trend tells you more than this year’s number.
- For a POTL, the fee covers the shared elements. You usually carry the cost of your own roof, furnace and windows, but confirm the split in the declaration and any registered agreements.
Source: CMHC, Calculating GDS/TDS. The $700 and $350 figures are an illustration, not a quote or a typical fee.
How to read the reserve fund, and spot a special assessment coming
The reserve fund is the corporation’s savings account for major repairs and replacements of the common elements. The Condominium Act requires a professional reserve fund study, and the board must adopt a funding plan that makes the fund adequate. When the fund falls short of a big repair, the owners pay the difference through a special assessment or a loan.
A comprehensive study within the first year after registration, then updates at least every three years, alternating between a site-inspection update and a records-only update.
After receiving a study, the board must propose a plan for adequate funding, send owners a notice of future funding within 15 days of that, and implement it 30 days later.
The fund balance, the balance the study said it should be by now, and the next five years of planned spending. Then check whether this year’s contribution matches the study’s recommendation.
- A low balance in a new building that is still ramping up contributions on the study’s plan
- A low balance right after a major project the fund was built up to pay for
- A one-time fee increase that the funding-plan notice explains
- A past special assessment that is fully paid and tied to a completed repair
- A fund below the study’s projection and a board that has kept fees flat
- Major components past their estimated life in the study with no funded project
- Minutes that discuss “options” for a large repair without a cost in the budget
- A reserve fund study more than three years old, or no study information at all
- Litigation against a builder for deficiencies the corporation may have to repair first
None of the “worth digging into” items means walk away. Each one means the price should reflect it, or your lawyer should ask the corporation to put its answer in writing before you waive.
Condo rules on pets, rentals, renovations and parking
By buying, you agree to the declaration, by-laws and rules. They are enforceable, and the Condominium Authority Tribunal hears disputes about several of them. Read them against your plans for the home, not in the abstract.
Pets
Limits on number, size and type are common. Some corporations prohibit pets.A rule that bans a pet you already own is a reason not to proceed, not a thing to sort out later. Service and support animals may be subject to human-rights accommodation; clarify that before treating a restriction as absolute.
Renting it out
Many declarations set a minimum lease term and prohibit short-term rentals.Owners must notify the corporation when they lease. If you may rent later, confirm the rules now. Investors: the investor page covers the rest.
Renovations
Changes that affect the common elements may need board approval and a section 98 agreement.That can include the exterior, balcony, windows and doors. Interior changes that don’t affect common elements are usually governed by the rules, which may still cover things like hard flooring. A POTL gives you more freedom inside the house, subject to the declaration and any registered agreements.
Parking, lockers, EV
Know whether your spot is owned, exclusive-use or rented.For an electric vehicle, ask whether the corporation has charging or a process for owner-installed chargers, which the Act’s regulations set out. Limited EV-charging options may affect future convenience and resale appeal.
The Condominium Authority of Ontario’s buyer resources explain the governing documents in detail. Your lawyer confirms how they apply to the unit you are buying.
Resale condo or pre-construction?
The due diligence is materially different. This page is about resale. The pre-construction side has its own guide.
Resale condo
- You can see the existing building and the unit
- Current fee, budget and financial statements
- You can request a status certificate and negotiate an appropriate review condition in your offer
- Rules and reserve fund as they are today, not as proposed
- The Condo Decision Brief before you waive
Pre-construction condo
- You rely on the agreement of purchase and sale, the disclosure statement, a proposed budget and draft governing documents
- A statutory 10-day rescission period under section 73, starting from the latest of receiving the executed agreement, the disclosure statement and the CAO Condo Buyers’ Guide
- Interim occupancy fees may apply before final closing
- Fees and rules can change once the corporation is registered
- Read the pre-construction guide
Condo prices and inventory in your town
Condo apartments and condo townhouses often move differently from detached homes in the same town. My market reports break each town down by property type, from MLS® data, so the time-sensitive numbers live there, not here. Start with the report for where you’re looking.
More reports: Uxbridge · Markham · Vaughan · Whitchurch-Stouffville · East Gwillimbury · Georgina · York Region
Own a home now and considering a condo?
Start by understanding what your current home could sell for. A Market Position Report gives you the number, and the timing, before you commit to anything.
Buyer benefits, with the terms in writing
These come on top of the advice, not instead of it. Each benefit and its conditions are written into your buyer representation agreement before you sign.
Use an inspector I recommend or your own. You pay the inspector; with the receipt, I reimburse you on closing, up to $600.
If your lender charges for one, you pay it; with the receipt, I reimburse you on closing, up to $350.
A one-year warranty from closing through a partner provider. The provider’s policy sets what’s covered, the limits and any deductible.
A professional clean before you move in, through a partner cleaning company.
Inspection and appraisal are paid by you up front and reimbursed on closing, up to the caps, with eligible receipts. Warranty and cleaning are provided by partners, not paid in cash. Ask me for the full terms on our first call. Full terms on the Buyers page →
Condo buying FAQ
How long does a status certificate take in Ontario, and who pays for it?
The corporation must deliver it within 10 days of receiving the request and payment, and can charge at most $100 including taxes and materials. Who pays is negotiated in the offer; the seller usually orders and pays for it. Faster delivery for a higher fee is allowed, but the $100, 10-day option must remain available.
Is a POTL a condo?
Partly. You hold freehold title to the house and its lot, but the lot is tied to a share of a common elements condominium corporation, which owns things like the private road and visitor parking. You pay a fee to that corporation, follow its declaration and rules, and can request a status certificate for it. Your lawyer confirms the structure on title.
Is a low reserve fund a red flag?
Not by itself. Read the balance against the reserve fund study, the board’s funding plan and the next few years of planned repairs. A new building, or one that just completed a major project, can have a low balance and a sound plan. A low balance with contributions below the study’s recommendation is the pattern that leads to special assessments. If the full study isn’t in the package, we ask whether it can be obtained before you waive.
Do condo fees affect how much mortgage I can get?
Yes. For an insured mortgage, CMHC includes 50% of applicable condo fees in your debt service ratios, so a $700 fee contributes $350 a month to the housing costs in that calculation. Lender and insurer policies vary; your mortgage professional confirms the treatment for your application. Affordability calculator
What does the Condo Decision Brief cover, and is it legal advice?
It is a one-page written summary of the practical buyer issues in the status certificate package: the fee and available history, the reserve fund information against the study where provided, assessments, upcoming capital work, litigation, insurance and the deductible, rules that affect your plans, parking and locker status, and anything unusual. Anything not provided is marked as such. It is not legal advice. Your lawyer reviews the certificate and documents and gives the legal opinion you rely on to waive your condition.
Should I still get a home inspection on a condo?
It can be worthwhile, especially for condo townhouses, stacked towns and POTLs, where more building components may affect you directly. In an apartment condo the inspection is generally narrower and focuses on accessible components within the unit. The status certificate addresses corporation-level finances, governance and responsibilities; an inspection addresses physical condition. They answer different questions. The inspection reimbursement applies to condo purchases.
Should I buy a resale condo or pre-construction?
They are different purchases. With resale you see the building, the budget and the fee history, and you have a status certificate condition. With pre-construction you rely on the disclosure statement, estimated fees and a 10-day rescission period, and you may pay interim occupancy fees before closing. The pre-construction guide covers that side.
I own a house now. Should I sell it before I buy a condo?
Start with what your home would sell for and how quickly, because that sets your budget and your timing. We map the dates and cash before you list or offer. Market Position Report · Buying and selling at the same time
Know what you’re buying into before you waive.
A 15-minute call about the type of condo you’re considering, what the fee needs to cover, and how the status certificate condition will work in your offer. No obligation.
Figures and program rules current as of October 14, 2026. Sources: CAO, status certificates; CAO, what is a condo; CAO, reserve funds; Condominium Act, 1998, ss. 73 and 76; O. Reg. 48/01, s. 18(4); CMHC, calculating GDS/TDS. General information only, not legal, tax or mortgage advice. Your lawyer, lender and the condominium corporation confirm the facts for the unit you are buying.
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