Published 19 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
A condo board, elected by owners, sets the budget, hires the manager and enforces the rules; owners do not vote on fees. The AGM presents audited statements, appoints the auditor and elects directors. Owners influence outcomes by voting or giving proxies, running for the board, requisitioning meetings and requesting records.
A condo is a corporation and you are a shareholder in all but name. Owners who understand how it runs tend to get better outcomes, whether they live there or rent the unit out.
What the board does
A board of directors, elected by owners, manages the corporation: it sets the budget, hires the manager, awards contracts, enforces the rules and plans for the reserve fund. Directors are volunteers, usually owners, and they must meet the Condominium Act’s qualifications and complete mandatory training.
The annual general meeting
At the AGM the corporation presents audited financial statements, appoints the auditor, and holds elections for open board seats. Owners receive notice in advance with the agenda and materials. Quorum matters: if too few owners attend or submit proxies, the meeting fails and has to be called again at cost to everyone.
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How fees get set
The board approves a budget each year, and fees follow from it. Owners do not vote on the budget. What owners can influence is who sits on the board, and whether the reserve fund study is being followed. A corporation that underfunds its reserve keeps fees artificially low and then hits owners with a special assessment.
Where owners have real power
- Vote, in person or by proxy. Proxies decide most condo elections.
- Run for the board.
- Requisition a meeting. Owners holding the required percentage of units can force a meeting, including to remove directors.
- Ask for records. Owners have a right to many corporation records through a formal request process.
- Use the Condominium Authority Tribunal for disputes it covers, including records, pets, parking, noise and other nuisance issues.
What to read every year
The audited statements, the budget letter, the reserve fund study and its update schedule, and the minutes. If you are buying, that material is in the status certificate package.
The takeaway
Read the statements, budget and reserve fund study every year, and use your proxy: it decides most condo elections.
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Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
Frequently asked questions
Do owners vote on condo fees?
No. The board approves the budget; owners elect the board and can requisition meetings.
What happens at a condo AGM?
Financial statements are presented, an auditor is appointed and board elections are held.
Can I get the condo’s records?
Yes, many records are available to owners through a formal request process under the Condominium Act.
What can the Condominium Authority Tribunal handle?
Disputes including records requests, pets, parking, storage and nuisances such as noise and odour.
Sources
- Condominium Authority of Ontario — boards, meetings, records and the Tribunal
- Condominium Act, 1998 — the statute governing condo governance
Related reading
- Noise Complaints in Toronto: What Condo Owners, Tenants and Homeowners Can Do
- Installing an EV Charger in a Toronto Condo: Rules, Process and Costs
- Your condo fees keep going up: why you do not get a vote, and the $100 document that tells you what is coming
- Ontario Condo Rules: Pets, Smoking and Short-Term Rentals Explained
- Buying Near a Planned Development in Toronto: How to Check Before You Offer
- Toronto Snow and Sidewalk Rules: What Homeowners and Landlords Must Do
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Etobicoke. I work with buyers and sellers across Toronto and the GTA, with deep local knowledge of the west end. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from RECO or Ontario legislation, so you can check all of it without asking me.
Reach me at [email protected] or 833-330-1925, or book a call.
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