Statistics released by the Condominium Management Regulatory Authority of Ontario (as of January 6, 2020) tell us that there are only 1,641 general licensees in the condominium market a number of whom are working in “supervisory” roles.
How many condo companies are in Ontario?
Ontario has more than 10,000 condo corporations and 750,000 condo units in Ontario according to Marie-France Lalonde, Ontario Minister of Government and Consumer Services.
How many condo companies are in Toronto?
CCI-Toronto is the pre-eminent voice of Toronto’s condominium community. We have over 810 condominium corporations which are members representing over 168,200 units in the GTA area.
What makes a good condo property manager?
The responsibilities of a condo manager
There are so many moving parts for one person to think of that it takes a very skilled individual to successfully manage a building. A good property manager must be personable, a great multi-tasker, and have strong project management skills.
How many condos are in the GTA?
Overall completions increased 55% in 2020 compared to 14,468 in 2019. And by the end of 2020 we saw a record high of 81,029 total condo units under construction across the GTA.
How many units does a condo have?
Difference between condominiums and apartments
|A condominium in India should have a minimum of five housing units.||An apartment building is one which has the ability to house a minimum of 10 families.|
|More personal touch seen and better amenities are present.||All units have the same basic amenities.|
How many condominiums are there in Canada?
There are over 1.3 million condo owners and/or residents living in more than 587,000 condominium units in Ontario. One-half of new construction in 2013 was condominium-related. In recent years, the condominium industry has been booming in Canada, with dozens of new towers being erected each year.
What percentage of people live in condos in Toronto?
The population has a high presence of adults aged 25 to Page 11 10 44 years and a high proportion of owners; 84% of the population live in condos.
How many apartment buildings are there in Ontario?
Across Ontario, there were 5,169,175 private dwellings. Of those, 54.3 per cent were single-detached houses; 17.2 per cent were in apartment buildings with five or more storeys; 10.1 per cent were in apartment buildings with fewer than five storeys; 3.4 per cent were flats in a duplex.
What is the role of a condo property manager?
Condo property managers are given the responsibility by the board of handling financial matters. They prove to be an important asset to the board of directors. They help with drafting budgets, collecting dues, scheduling audits, preparing financial statements and tax returns, and looking after the reserve fund.
What are three duties of a property manager?
Duties and Responsibilities of a Property Manager
- Determine the rent price. …
- Prepare vacant units. …
- Advertise rental vacancies. …
- Screen and approve tenants. …
- Prepare and enforce a lease agreement. …
- Handle tenant complaints and issues. …
- Collect and adjust the rent. …
- Carry out property maintenance and repairs.
What are the responsibilities of a condo property manager?
Role of a Condo Manager
- collecting common expense fees.
- keeping records for the condo corporation.
- responding to owner complaints.
- ensuring maintenance and repair of the property.
- hiring and monitoring service companies, and overseeing staff and contractors.
- preparing draft annual budgets and overseeing the reserve fund.