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Information Certificates for Self-Managed Condos: What Boards Must Know

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Transparency builds trust. For self-managed condominiums, keeping owners informed about the corporation's affairs isn't just good practice; it's a legal requirement. Since November 2017, Ontario's Condominium Act has required boards to provide information certificates to owners, ensuring everyone stays informed about financial health, governance changes, and other important

matters affecting their investment and home.

"Transparency fosters trust. And trust is very valuable in business.” — Hendrith Smith

Important: Information certificates became mandatory on November 1, 2017. All Ontario condominium corporations must comply with these requirements using prescribed forms under the Condominium Act, 1998.

What Are Information Certificates?


Information certificates are standardized documents that provide owners with essential information about various aspects of the corporation's affairs. Think of them as regular progress reports that keep your community informed, engaged, and aware of important changes.


These certificates serve multiple purposes: they promote transparency, help owners understand the corporation's financial position, notify them of governance changes, and ensure new owners receive crucial information when joining the community.


The Three Types of Information Certificates


Ontario government Periodic Information Certificate form with blank corporation, address, and manager fields plus checkboxes.

The Act requires three distinct types of certificates, each serving a specific purpose and timeline.


The Periodic Information Certificate (PIC) is the foundation; it contains comprehensive information about the corporation. The other two certificates (ICU and NOIC) build upon the PIC, providing updates or delivering information to new owners.


Periodic Information Certificates (PIC): Your Regular Report Card


The PIC is your twice-yearly comprehensive update to all owners. Much of this information already exists in status certificates prepared for purchasers, so boards aren't creating entirely new content - they're organizing existing information into a standardized format.


PIC Timing Requirements


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PICs must be current as of the last day of the quarter before distribution and sent at minimum twice annually. The first PIC must be sent within 60 days of the last day of the first quarter of your fiscal year. The second PIC must be sent within 60 days after the last day of the third quarter of your fiscal year.


More frequent distribution may be required if your by-laws require PICs more often than twice yearly.


What Goes in a PIC?


  • The corporation's address for service

  • Names and addresses for service of directors and officers

  • Director information: legal actions, arrears over 60 days, training completion status

  • Outstanding judgments and status of legal actions involving the corporation

  • Certificates or memoranda for all current insurance policies

  • Number of leased units reported to the corporation

  • Complete budget information: surplus/deficit, reserve fund balance, contributions, anticipated expenditures, planned increases

  • Any failure to pay the annual CAO fee and related compliance orders


For small self-managed boards, gathering this information twice yearly might seem daunting, but remember: you likely already maintain most of these details for your own governance purposes.


Information Certificate Updates (ICU): When Things Change

Changes happen in every community. When certain significant changes occur, you must notify all owners through an Information Certificate Update, typically within 30 days.


Critical Urgency: If board vacancies result in loss of quorum, you must issue an ICU within just 5 days, requesting that anyone intending to run for the vacant position notify remaining board members within 5 days of the ICU date. This tight timeline reflects the serious nature of losing quorum—the board cannot conduct business until quorum is restored.

New Owner Information Certificates (NOIC): Welcoming Your Newest Neighbors


When ownership changes hands, new owners need to understand the corporation's current status. The NOIC ensures they receive comprehensive information within 30 days of becoming owners.


First, new owners must notify the corporation of their names and the units they own so the corporation can update its records. Once the board receives this information, they provide the NOIC, which includes: acopy of the most recent Periodic Information Certificate (PIC), any Information Certificate Updates (ICU) issued since the PIC, and any additional information required by your by-laws.


This ensures new owners start with the same information level as existing owners, promoting community cohesion and informed participation.


Why Information Certificates Matter for Small Condos


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For volunteer boards managing small buildings, information certificates might initially seem like extra paperwork. But they serve crucial purposes:


They build trust. Regular, transparent communication shows owners that their volunteer board takes governance seriously and has nothing to hide.


They prevent disputes. When owners stay informed about finances, governance changes, and corporate affairs, misunderstandings decrease and community harmony improves.


They protect the board. Documented, timely communication creates a record that the board fulfilled its legal obligations and kept owners appropriately informed.


They engage the community. Informed owners make better community members - they understand budget constraints, appreciate board efforts, and participate more constructively in decision-making.


Embracing Transparency as Good Governance


Information certificates represent a shift toward greater transparency in condominium governance. Rather than viewing them as burdensome regulations, successful self-managed boards embrace them as tools for building stronger, more informed communities.


When your volunteer board consistently provides timely, accurate information certificates, you demonstrate commitment to good governance, respect for owners' rights to information, and confidence in your stewardship of the corporation. These regular touchpoints keep communication flowing and help everyone feel connected to their community's health and direction.


Yes, it requires effort but for small self-managed condos, the investment in transparency pays dividends through increased trust, reduced conflict, and a more engaged ownership base supporting your volunteer efforts.

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