Welcome to Condo’s Corner!
Brought to you by Daulton Read, President of Read Property Management
Get ready for a weekly dive into condo living like never before with Condo’s Corner! Speaking from my perspective as a Condominium Manager, my goal is to entertain and provide valuable management insights and stories that can help you live your condo life a bit better—all with a little bit of wit, charm, and practicality.
Important Dates to Know as a Condo Owner in Ontario
Condo living comes with many benefits—but it also comes with responsibilities. One of the best ways to stay engaged and protect your investment is to stay informed about important condominium deadlines and timelines specific to your corporation.
Here’s a quick guide to the key dates and timelines every Ontario condominium owner should keep in mind:
🏦 Understanding Your Condo’s Fiscal Year
What it is: The fiscal year is the 12-month financial reporting period your condo corporation uses (it may not line up with the calendar year).
Why it matters:
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It determines when financial statements are due.
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It sets the schedule for preparing and approving annual budgets.
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It affects when the AGM must be held (within 6 months after fiscal year-end).
Tip: If you’re unsure when your condo’s fiscal year ends, check your budget, AGM notices or ask your property manager.
📅 Annual General Meeting (AGM)
Deadline: Within 6 months after the corporation’s fiscal year-end.
Why it matters: The AGM is your chance to hear updates, elect board members, review financials and approve the auditor. Look for a Preliminary Notice and Formal Notice of Meeting leading up to it!
✉️ Preliminary Notice of Meeting
Deadline: At least 20 days before the Formal Notice of Meeting.
Why it matters: This heads-up allows owners to propose topics for the AGM meeting agenda. A great time to raise concerns or ideas!
📢 Formal Notice of Meeting
Deadline: At least 15 days before the meeting date.
Why it matters: You’ll receive the AGM agenda, audited financial statements, and any important documents you need to participate and vote.
💼 Periodic Information Certificates (PIC’s)
Deadlines:
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First PIC: Within 60 days of the end of the first fiscal quarter.
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Second PIC: Within 60 days of the end of the third fiscal quarter.
Why it matters: PIC’s keep you informed throughout the year about your corporation’s finances, reserve fund, insurance coverage, and other key updates.
📝 Annual Budget Preparation
Deadline: There is no fixed date, but it is typically completed near the end of the current fiscal year to prepare for the upcoming one. It is best practice to share the approved budget with owners at least one month before the new budget is officially implemented.
Why it matters: The budget determines your condo fees for the next 12 months and outlines how the corporation plans to fund maintenance and projects.
📑 Annual Return Filing with the CAO
Deadline: Management must file before March 31 each year, or you will be penalized!
Why it matters: Ensures your corporation’s information is accurate and updated with the Condominium Authority of Ontario (CAO). Transparency protects your investment!
🌿 Weekly Landscaping Days
Typical Schedule: Once a week during the spring, summer, and fall growing seasons (usually between April and October).
Why it matters: Keeping the grounds clean the day before landscapers arrive is crucial!
Owners should:
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Pick up all pet waste from lawns, gardens, and green spaces the day before landscapers are scheduled.
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Move personal items like planters, garden décor, or bikes off the grass.
This helps the landscaping crews work efficiently and keeps your property looking its best. A clean site means better cutting, trimming, and healthier lawns — something every resident benefits from!
Tip: Check your condo’s notice board, email updates, or newsletters to confirm your property’s regular landscaping day.
Being an informed owner doesn’t just help protect your personal investment—it strengthens your entire community. Mark these important dates, participate when you can, and don’t hesitate to ask questions. A strong, well-informed ownership group is the foundation of every prosperous condominium!
At Read Property Management, we believe that great communication makes all the difference. Keeping owners informed isn’t just a requirement—it’s a commitment to better living.
Have questions about how your condominium corporation is managed? Reach out to us anytime!
📧 info@readpm.ca | 📞 (289) 668-7309 | 🌐 www.readpm.ca
Let’s Hear It From You!
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Just a quick heads-up: while I strive to deliver top-notch content, I’m not liable for any actions or mischief that might stem from my thoughts. Remember, I’m here to entertain and inform, not dispense legal advice. Also some links shared may be affiliate links. And if you’ve got a bone to pick with anything I say, fire away! Complaints make great conversation starters.
– Daulton R.
