One Year of Licensing: A snapshot of the condominium management sector
The following article was originally published in CM Magazine and has been reprinted with permission from the Association of Condominium Managers of Ontario (ACMO).
It is estimated that 50% of the new homes being built in the province are condominiums, which is not surprising considering the rapid expansion of Ontario’s condominium communities. Condo managers are professionals who, like other occu-pations in Ontario, must be licensed. With more than 750,000 condo units in the province already, and new projects ready to break ground, the CMRAO’s oversight of this complex sector gives condo owners confidence that their investment is being professionally managed by people and companies that are accountable to a government-created licensing authority.
Since our designation one year ago, the CMRAO has processed all initial licence applications and completed the first annual renewal cycle. After only 12 months, we are starting to see trends in the licensing data. We will continue to monitor these trends and look forward to sharing these insights with the sector in the coming year.
To date, the CMRAO has seen a net increase of 91 licensees since the end of the first licensing year (June 30, 2018). The data represented here reflect the number of active licences (as at October 29). Generally speaking, the current number of licensed condo management professionals demonstrates stability of the sector.
In the Condominium Management Provider Licence (CMPL) category, our data indicate that condo management companies vary significantly in size and corporate structure. There are an extremely high number of companies with only one manager and fewer than a handful of companies that employ more than 100 condo managers. In just one full year of operation, we have seen companies choose not to renew their CMPL licence and leave the industry, and brand-new businesses form to provide services.
In the interest of consumer protection as Ontario’s condominium industry continues to expand, the CMRAO works to ensure that condo management professionals are licensed, meet education and experience requirements, and comply with their legal and ethical obligations.
Licences Issued (as at October 29, 2018)
Regional Distribution of CMRAO Licence Applications (as at October 29, 2018)
Ali Arlani is Chief Executive Ofﬁcer and Registrar of CMRAO