The Condo Management Regulatory Authority of Ontario (CMRAO) is seeking your input on the fees it proposes charging to licence Condo Managers in Ontario. The CMRAO is seeking your opinion on these fees through an online survey.
The CMRAO is mandated to protect consumers by enforcing standards for education, training and ethics of Condo Manager and by regulating the conduct of condo management professionals. CMRAO is expected to launch its operations on November 1, 2017, which will include the mandatory licensing of condo managers and condo management providers.
The Proposed Licensing Fees
CMRAO is proposing the following annual fees for each class of Condo Management licences:
- The Limited Licence: $379/year
- The Transitional General Licence: $607/year
- The General Licence: $607/year
- The Condo Management Firm Licence: $799/year base fee + $350/year per licensee employed by the firm
CMRAO also proposes a one-time fee of $150 to process each new licence application. This fee will reflect the cost of reviewing and validating the information in each application.
Reminder on What Each Licence is for
We have blogged already on the different kinds of licences available, but here is a short refresher. Feel free to click on the links below to be directed to our post.
- The Limited Licence: This licence will be for new Condo managers. These managers will need to work under supervision and under certain conditions for 2 to 5 years;
- The Transitional General Licence: Will be available to existing managers with 2 years or more of experience. These licenses will continue to exist for at least 150 days to allow sufficient time for managers to apply for a general licence. These licences are not meant to be in place for more than 3 years;
- The General Licence: Will be granted to Condo Managers with at least 2 years of experience under a Limited Licence and who have successfuly completed the education requirements.
- The Condo Management Firm Licence: This licence will be required by corporations, partnerships, sole proprietors, associations or other entities providing condo management services.
Don’t forget to visit CMRAO’s website to complete the SURVEY and provide your opinion on the proposed fees. You have until August 10, 2017 to do so.