Required Review Documents
Learn about all the documents required for a comprehensive condominium document review. Click on any document to see detailed information and examples.
Complete Guide to Condominium Documents
Annual General Meeting (AGM) Minutes
What is it?
AGM minutes document key decisions, votes, and discussions from the association's main yearly meeting. They include financial reports, board elections, major project approvals, and owner concerns.
Where does it come from?
These minutes are recorded by the secretary of the condominium board or by the property manager during the Annual General Meeting that all owners are invited to attend.
How do I get it?
Request this document from the seller or the property management company. AGM minutes are usually distributed to all owners after the meeting, so the seller should have a copy.
Budget
What is it?
The budget document shows planned income and expenses for the upcoming fiscal year. It details anticipated costs for maintenance, utilities, insurance, management, and contributions to the reserve fund.
Where does it come from?
The budget is prepared by the condominium board of directors, often with input from the property manager. It is typically prepared annually and approved at a board meeting.
How do I get it?
Request this document from the seller or their real estate agent. The seller should be able to obtain the most recent approved budget from the property management company.
Bylaws
What is it?
Bylaws are the rules governing the association's operation and the rights and responsibilities of owners. They detail restrictions on use, renovations, rental policies, pet policies, and other important regulations.
Where does it come from?
Bylaws are established when the condominium corporation is formed and can be amended by a vote of the owners (usually requiring a supermajority). They are filed with the land titles office.
How do I get it?
Request this document from the seller or their real estate agent. This is a fundamental document that should be provided in any condominium purchase transaction.
Financial Statement
What is it?
Financial statements provide detailed information about the association's financial condition, including income, expenses, assets, and liabilities. These documents typically include a balance sheet, income statement, and statement of cash flows.
Where does it come from?
Financial statements are prepared by the condominium corporation's accountant or financial manager and approved by the board of directors. They are usually created annually after the fiscal year end.
How do I get it?
Request this document from the seller or their real estate agent. The seller should request a copy from the condominium management company if they don't already have it.
Information Statement
What is it?
The Information Statement is a comprehensive disclosure document that provides critical financial and legal information about the condominium corporation. It includes details on special levies, legal actions, reserve fund status, structural deficiencies, and current loans.
Where does it come from?
This document is created by the condominium management company specifically for a unit sale transaction.
How do I get it?
Ask the seller to request this document from their property management company. The management company will create this document specifically for the sale transaction, usually for a fee.
Insurance Certificate
What is it?
The insurance certificate details the corporation's insurance coverage for the building and common elements. It includes policy numbers, coverage limits, deductibles, and expiration dates for property damage, liability, and other types of insurance.
Where does it come from?
The certificate is issued by the insurance company providing coverage to the condominium corporation and is typically renewed annually.
How do I get it?
Request this document from the seller or the property management company. This is an important document that shows the level of protection the building has against various risks.
Management Agreement
What is it?
The management agreement outlines the responsibilities and fees of the property management company. It details the services provided, compensation structure, term of the agreement, and termination conditions.
Where does it come from?
This contract is negotiated between the condominium board and the property management company they've selected to manage the property.
How do I get it?
Request this document from the seller or the property management company. This document helps you understand how the property is managed and what services are included in the management fees.
Board Meeting Minutes
What is it?
Meeting minutes document discussions and decisions made by the condo board at regular meetings. They include reports on operations, maintenance issues, financial updates, rule enforcement, and upcoming projects.
Where does it come from?
These minutes are recorded by the secretary of the condominium board or by the property manager during regular board meetings that occur throughout the year.
How do I get it?
Request the past 1-2 years of meeting minutes from the seller or the property management company. These documents provide valuable insight into ongoing issues and how the board handles them.
Purchase Contract
What is it?
The purchase contract (or purchase agreement) is the formal agreement between buyer and seller that sets out the purchase price, key dates, conditions, and responsibilities for the condo purchase. It is the core legal document that governs your transaction.
Where does it come from?
The purchase contract is prepared and signed by the buyer and seller (and their agents) as part of the offer and acceptance process. The buyer agent typically provides a copy for the document review.
How do I get it?
Your buyer agent is responsible for providing the purchase contract. Request a copy from your real estate agent if you have not already received it.
Reserve Fund Study
What is it?
The reserve fund study evaluates the association's long-term financial planning for major repairs and replacements. It assesses whether the corporation has adequate savings and recommends contribution levels to meet future capital needs.
Where does it come from?
Reserve fund studies are prepared by specialized engineering or consulting firms hired by the condominium corporation. They must be updated every 5 years in most jurisdictions.
How do I get it?
Request this document from the seller or their real estate agent. This is a mandatory document that the seller must provide as part of the condominium documents package.
Standard Insurable Unit Description
What is it?
The standard insurable unit description defines what parts of the unit are covered by the corporation's insurance policy versus what must be covered by the owner's policy. This document outlines the standard fixtures, finishes, and features of units as originally constructed.
Where does it come from?
This document is created by the condominium corporation to clearly define insurance responsibilities between the corporation and unit owners.
How do I get it?
Request this document from the seller or the property management company. This is essential for proper insurance planning and understanding what improvements might not be covered by the corporation's policy.
Title Document
What is it?
The title document provides legal proof of ownership and details key information about the property such as legal description, ownership history, registered encumbrances, easements, caveats, and any liens against the property. It defines the exact boundaries of the property and associated rights.
Where does it come from?
Title documents are official government records maintained by the land titles office or registry in the jurisdiction where the property is located.
How do I get it?
Request a copy of the current title from the seller or their real estate agent. Alternatively, you can obtain a copy directly from the land titles office or through a title search company for a fee.
MLS Feature Sheet
What is it?
The MLS (Multiple Listing Service) listing contains detailed marketing information about the property as presented to potential buyers. It includes property specifications, features, amenities, asking price, property taxes, condo fees, and often photos and floor plans.
Where does it come from?
MLS listings are created by real estate agents and uploaded to the Multiple Listing Service database, which is accessible to real estate professionals and, in some cases, the public through various real estate websites.
How do I get it?
Request a copy of the current or previous MLS listing from your real estate agent or the seller's agent. This document provides a comprehensive overview of how the property was marketed.
Condo Survey Plan
What is it?
The condominium plan is a detailed architectural drawing that shows the physical layout of the entire condominium development, including individual units, common areas, and boundaries. It contains floor plans, elevation drawings, and defines exactly which parts of the building are owned by unit holders versus common property.
Where does it come from?
The condominium plan is prepared by professional surveyors and architects when the condominium is initially registered. It is filed with the land titles office as part of the condominium corporation's registration.
How do I get it?
Request a copy from the seller, the condominium board, or the property management company. If these sources don't have it, you can obtain a copy from the land titles office in the jurisdiction where the property is located.
BEVA (Building Exterior Visual Assessment)
What is it?
The Building Exterior Visual Assessment (BEVA) evaluates the exterior condition of the building, including walls, windows, roof, and other visible structural elements. This assessment helps identify potential maintenance issues and repair costs.
Where does it come from?
BEVA reports are prepared by professional engineering firms hired by the condominium corporation to assess the building exterior condition. They are typically required for buildings over 5 storeys and over 5 years old.
How do I get it?
Request this document from the seller or the property management company. BEVA reports are mandatory for certain buildings and provide critical information about the building's exterior condition.
Engineering Report
What is it?
Engineering reports evaluate the physical condition of the building, identifying structural issues or necessary repairs. They provide critical information about the building's integrity and potential future costs.
Where does it come from?
These reports are prepared by professional engineering firms hired by the condominium corporation to assess specific aspects of the building or to investigate particular concerns.
How do I get it?
Request this document from the seller or the property management company. Engineering reports are not always available for every property unless there have been specific issues or regular assessments.
Policies
What is it?
The policies document outlines specific rules for day-to-day living that supplement the bylaws. These can include guidelines for amenity use, noise restrictions, garbage disposal, renovation procedures, and other quality-of-life matters.
Where does it come from?
Policies are created and approved by the condominium board and can be updated more easily than bylaws, without requiring a vote of all owners.
How do I get it?
Request this document from the seller or the property management company. Policies help you understand the day-to-day rules you'll need to follow as an owner.
Post-Tension Cables Report
What is it?
The Post-Tension Cables Report evaluates the condition and integrity of post-tension cables in the building structure. This report is essential for buildings with post-tension systems to ensure structural safety and identify any necessary repairs.
Where does it come from?
Post tension reports are prepared by structural engineering firms specializing in post-tension cable systems. They assess the condition of the cables and provide recommendations for maintenance or repairs.
How do I get it?
Request this document from the seller or the property management company if the building has post-tension cables. This report is critical for understanding the structural integrity of the building.
Special Assessment Notice
What is it?
Special assessment notices inform owners of additional fees required for unexpected repairs or improvements. These can significantly impact your monthly costs and should be carefully reviewed.
Where does it come from?
Special assessment notices are issued by the condominium board when unexpected expenses arise that exceed the reserve fund capacity. They require approval by the board and may need owner consent depending on the amount.
How do I get it?
Request this document from the seller or the property management company. Special assessment notices are critical for understanding potential additional costs beyond regular condo fees.
BECA (Building Envelope Condition Assessment)
What is it?
The Building Envelope Condition Assessment (BECA) provides a comprehensive evaluation of the building's exterior envelope, including structural integrity, weather resistance, and maintenance requirements. This assessment is crucial for long-term building maintenance planning.
Where does it come from?
BECA reports are prepared by professional engineering firms with specialized expertise in building envelope assessment. They provide detailed analysis and recommendations for building maintenance.
How do I get it?
Request this document from the seller or the property management company. BECA reports provide valuable insights into the building's exterior condition and maintenance needs.
Condominium Additional Document Sheet
What is it?
The condominium additional document sheet provides supplementary information about the property that may not be covered in standard documents. This can include special arrangements, unique features of the property, or specific considerations for potential owners.
Where does it come from?
This document is prepared by the property management company or the condominium board to provide additional context or information beyond standard documentation.
How do I get it?
Request this document from the seller or the property management company if it exists for the property.
Reserve Plan
What is it?
The reserve plan outlines the association's strategy for funding and executing major repairs and replacements over time. It provides a roadmap for maintaining the property's value and avoiding special assessments.
Where does it come from?
Reserve plans are developed based on reserve fund studies and are approved by the condominium board. They outline the timing and funding for major capital projects.
How do I get it?
Request this document from the seller or the property management company. The reserve plan helps you understand the association's long-term maintenance strategy.
Annual General Meeting (AGM) Minutes
Documents key decisions and votes from the annual owners' meeting.
Budget
Planned income and expenses for the current fiscal year.
Bylaws
Legal rules governing the corporation and owner rights and restrictions.
Financial Statement
Shows the corporation's income, expenses, assets, and liabilities.
Information Statement
Official disclosure of legal actions, levies, loans, and financial status.
Insurance Certificate
Details building coverage, deductibles, and what owners need to insure.
Management Agreement
Contract outlining property manager responsibilities and fees.
Board Meeting Minutes
Records of board discussions, decisions, and ongoing building issues.
Purchase Contract
Contract outlining the terms of the purchase of the property.
Reserve Fund Study
Outlines savings for future major repairs with a funding plan.
Standard Insurable Unit Description
Defines what the corporation's insurance covers vs. owner responsibility.
Title Document
Legal proof of ownership showing encumbrances and liens.
MLS Feature Sheet
Marketing details including price, features, and photos.
Condo Survey Plan
Architectural drawings showing unit boundaries, parking, and storage.
BEVA (Building Exterior Visual Assessment)
Visual inspection of the building's exterior envelope condition.
Engineering Report
Professional evaluation of building structural condition.
Policies
Day-to-day rules for pets, rentals, renovations, and amenity use.
Post-Tension Cables Report
Engineering assessment of structural cable integrity.
Special Assessment Notice
Notice of additional fees required for unexpected repairs.
BECA (Building Envelope Condition Assessment)
Invasive assessment of building envelope with detailed analysis.
Condominium Additional Document Sheet
Lists registered documents and management company details.
Reserve Plan
Strategy for funding and executing major repairs over time.