CMRAO Releases First Practice Guide for Condominium Management
The Condominium Management Regulatory Authority of Ontario (CMRAO) has released its first-ever practice guide for condominium managers, Financial Management: A Practice Guide for Condominium Managers. This guide outlines key financial obligations and best practices to help condominium managers provide services in compliance with Ontario’s legislation.
We are proud to share that Lyndsey McNally, a valued member of our team, contributed to the development of this guide. As a subject matter expert, Lyndsey helped shape this essential resource, ensuring it reflects industry best practices and supports managers in making informed financial decisions for their condominium corporations.
About CMRAO’s Practice Guides
CMRAO’s practice guides serve as practical resources to complement existing legislation and regulations. They provide condominium managers and management provider businesses with guidance on their legal, ethical, and fiduciary obligations, helping to promote consistency and transparency across the sector. Developed in consultation with industry stakeholders and the CMRAO’s Advisory Committee, these guides set standards that enhance professional practices in condominium management.
Future CMRAO practice guides will cover additional key topics, such as:
- Procurement practices and managing contractors
- Condominium board and owners’ meetings
- Records keeping and turnover practices
