How CMRAO Licensing Fees Are Used
The CMRAO is a not-for-profit corporation funded through the licensing fees of condominium management licensees. The CMRAO issues licenses and charges licensing fees annually in order to meet its consumer protection mandate, and to recover the regulatory costs associated with administering the Condominium Management Services Act, 2015 (CMSA).
Each year, the CMRAO reviews its finances to ensure that funds are being used effectively. Licensing fees have remained the same since they were decreased in 2019; however, there is a 4% increase that will apply to annual licensing fees in 2023 to adjust for rising costs.
Licensing fees cover the cost of operations and help the CMRAO regulate the condominium management sector. The CMRAO is committed to providing value for money and to being transparent and accountable for the efficient use of licensing fees that help us deliver our consumer protection mandate.
Watch this short video to learn more about how CMRAO licensing fees are used.