Condo Records Retention Guide for Self-Managed Condos
- Condo Care
- Dec 16, 2025
- 5 min read
Every condominium corporation accumulates records. Board meeting minutes, financial statements, vendor contracts, owner information, insurance policies... the list grows constantly. For volunteer board members, deciding what to keep and what to discard can feel overwhelming. Keep too much and you're buried in paperwork. Discard too soon and you might violate the law or lose critical information.
Understanding the different types of condo records and their retention periods brings clarity to this challenge. This guide walks you through the records your condo must maintain,
how long each should be kept, and why these requirements exist.
Why Record-Keeping Matters for Small Condos
"Documents create a paper reality we call proof." — Mason Cooley
Proper record-keeping ensures compliance with the Condominium Act, which legally requires boards to create and maintain records. Good records protect the board by documenting decisions made, actions taken, and the reasoning behind them. When disputes arise, comprehensive records provide evidence of responsible governance.
Records also protect individual owners by providing transparency about how their condo is managed and how their fees are spent. When an owner wants to sell their unit, potential buyers or their lawyers often request records to understand the condo's financial health and governance history. Additionally, proper records support operational continuity when board members change, new directors can review past records to understand ongoing issues and commitments.
Understanding Core and Non-Core Records
Two Categories of Records
The Condo Act divides records into two categories.
Core records are fundamental documents that every condo must maintain and that owners have a clear right to access. These include the declaration, bylaws, rules, meeting minutes, financial statements, reserve fund studies, and auditors' reports.
Non-core records are all other documents the condo maintains, such as vendor invoices, correspondence, maintenance logs, and purchase orders. While owners have the right to access non-core records too, the board has slightly more discretion about sharing them.
Key Types of Condo Records and How Long to Keep Them
Essential Condo Documents
Governing Documents (Keep Indefinitely) - Your condo's declaration, bylaws, and rules define how your community operates. Keep these forever. These documents establish owner rights and responsibilities, board authority, voting procedures, and reserve fund requirements. They form the legal basis for your condo's existence and operation, so they must be retained indefinitely.
Board and Owner Meeting Minutes (Keep Indefinitely) - Minutes from all board meetings and annual general meetings should be kept indefinitely. These records document decisions made, votes taken, and discussions held. When disputes arise about what the board decided or when decisions were made, minutes provide the definitive record and protect the board by showing that proper procedures were followed.
Reserve Fund Studies (Keep Indefinitely) - Reserve fund studies project your condo's major repair needs and costs over thirty years. Keep all studies indefinitely, including updates and changes. These documents establish the basis for reserve fund contributions and help defend the board's budgeting decisions.
Financial Records and Statements (Keep at Least 7 Years) - Annual audited financial statements, bank statements, invoices, receipts, and financial reconciliations should be kept for at least seven years. This retention period allows for financial audits, tax reviews, and resolution of financial disputes. After seven years, you can generally discard individual invoices and supporting documents, though retaining them longer is acceptable if space allows.
Contracts and Agreements (Keep for Duration Plus 7 Years) - Keep contracts with vendors, service providers, and management companies for the duration of the contract plus seven years after termination. This ensures you have documentation of obligations, payment terms, and performance expectations if disputes arise.
Proxy Forms (Keep at Least 90 Days After Meeting) - Proxy forms submitted for owner meetings should be kept for at least ninety days following the meeting date. This retention period allows time for disputes about voting procedures to be identified and addressed. After ninety days have passed, these can be discarded.
Insurance Policies (Keep Indefinitely or Per Policy) - Keep all insurance policies indefinitely, or at minimum for the duration of coverage. These prove your condo maintains required insurance and establish coverage details if a claim is filed. Policies become particularly important if damage occurs years later and questions arise about what was covered.
Correspondence with Owners (Keep at Least 7 Years) - Keep correspondence between the board and owners, including emails and letters, for at least seven years. This documentation shows how the board communicated decisions, addressed concerns, and handled complaints. Should disputes arise, these records provide evidence.
Maintenance and Repair Records (Keep at Least 7 Years) - Maintain records of all maintenance performed, repairs completed, and contractors hired for at least seven years. This creates a history of building maintenance that protects the condo by showing proactive care and helps identify recurring problems.
Secure Storage and Organization
Best Practices for Keeping Records Safe
Paper records should be kept on the condo's property, in your manager's office if you use professional management, or at another secure location the board designates. Ensure records are organized systematically so they can be retrieved efficiently when needed.
Electronic records require different protections. Store them in a system that can reproduce them in reasonable time if needed. Use password protection to prevent unauthorized access and implement regular backups to secure cloud storage or maintain multiple copies in different locations to protect against data loss.
When handling personal information about owners, the board must be especially careful. Collect only information necessary for condo operations, use it only for the purpose it was collected, and retain it only as long as needed.
Responding to Owner Record Requests
The Access Process
Owners, purchasers, and mortgagees have a legal right to access condo records. When someone requests records, they should submit a mandatory Request for Records form. Once the board receives a proper request, you have thirty days to respond using the mandatory Board's Response to Request for Records form.
The board may charge reasonable fees for providing copies based on actual costs of labor, printing, and delivery. Non-core records typically incur fees, while core records provided electronically should be provided without charge. Once payment is received, provide the records on the timeline specified by the Condo Act.
The board can deny access to certain records including employee information, details about actual or contemplated litigation, information about other units or owners, and materials about personnel disputes. If denying access, provide written explanation of why the record is unavailable.
Quick Reference for Common Records
Keep Indefinitely: Governing documents, meeting minutes, and reserve fund studies
Keep at Least 7 Years: Financial records, contracts, correspondence, and maintenance records
Keep Indefinitely: Insurance policies
Keep 90 Days After Meeting: Proxy forms
Records Are Your Condo's Memory
As your condo matures, record-keeping becomes routine. Develop a simple filing system, document what you keep and why, and ensure new board members understand your approach. Start by categorizing your existing records according to the types described here and designate someone to maintain your filing system.
Organized, complete records protect your community and enable effective governance.
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