Integrity and Honesty: Ethical Obligations of all CMRAO Licensees
The role of a condominium manager is a position of trust. As a licensed professional, protecting the best interests of the client condominium corporation is an essential part of the job. This is not just good professional practice – it’s a requirement by law.
The CMRAO’s Code of Ethics is a regulation developed by the provincial government under the Condominium Management Services Act, 2015 (CMSA) intended to help licensees differentiate right from wrong in the course of their professional responsibilities. It sets out the ethical obligations of all licensees, establishes standards of practice, governs the way professional condominium managers should conduct business, and promotes professionalism, reliability, and quality of service.
Transparency Regarding Conflicts of Interest
A critical element of the Code of Ethics is the requirement for licensees to act with fairness, honesty, and integrity at all times. This means navigating conflicts of interest in accordance with both your ethical obligations as set in the Code of Ethics, and your legal obligations as outlined in the CMSA.
What constitutes a conflict of interest?
If a situation arises when an individual’s personal interests interfere with their ability to make a decision for the condo corporation’s greater good, that would be a conflict of interest. Section 52 of the CMSA states that conflicts of interest can be permissible, provided that if a licensee has a direct or indirect interest in a transaction, they declare the conflict to the condo corporation and recuse themselves from the procurement process.
For example, consider a condominium manager in a small town where the only local landscaping company is owned by a member of their family. Hiring this company may be in the condo’s best interest, but the licensee would be required to disclose this relationship, in writing, to the corporation’s board of directors.
Failing to declare this conflict is not only a breach of the Code of Ethics, but also contravenes the CMSA. This could lead to disciplinary action against you and could result in a fine or licence revocation.
See our reference guide to learn more about the CMRAO’s Code of Ethics.