What I'm Looking for in a Status Certificate

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Status Certificate reviews are one of the most commonly requested topics here.

So this week, I wanted to give an outline of what I'm actually looking for when I review them, and the things that matter to your clients and their decision.

Level and Unit Numbers

The first thing I do is verify the legal description of the unit, plus any locker, and parking (if applicable). I make sure it matches what’s in the APS, and confirm whether those spaces are owned, exclusive-use, or missing altogether. It’s both a small thing, but arguably the most fundamental to the Agreement.

Common Expenses

Next, I confirm the monthly common expense, check for any arrears, and review the fiscal year end — that year end is our indication for upcoming increases. I'm also looking for notes about circumstances that could lead to increase in the common expense or special assessments.

Reserve Fund

After that, I move on to the Reserve Fund. This is the condo’s long-term savings plan. I check when the last reserve fund study was completed (should be within 3 years), whether the condo has implemented the funding recommendations, and how those recommendations may impact the future common expenses.

Litigation

Here i'm looking for any active or recent lawsuits involving the condo. Checking to see if the matter is covered by insurance and at worst case scenario, what that liability could look like based on the unit's potential exposure.

Insurance

I review the insurance certificate to make sure the Corporation has adequate coverage in place, both for the building itself and for liability risks.

Leasing

There's usually a section that shows how many units in the building are leased and whether there are any rental restrictions. I always include this in my review to give our client a sense of the owner-occupancy to understand what kind of community they’re entering into.

Lifestyle and Rules

I don’t review this section in depth unless a client specifically asks. That’s because what matters varies from buyer to buyer. Rules on smoking or pets can be either a selling feature or a deal breaker, depending on the person. During my review call, I always encourage clients to tell me what’s important to them so I can clarify any questions for them here.

Red Flags and Additional Info

In general, i'm using my experience to spot anything that seems out of the ordinary. If something doesn’t sit right, it’s a prompt to dig deeper. I’ll also follow up with condo management if additional details are needed, especially if the client or Realtor noticed anything unusual during showings or conversations with the listing agent.

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Remember: a status certificate review isn’t a pass/fail test.

It’s about giving the client the full picture of the context, risks, and obligations so they can make an informed decision that works for them.

And if you ever have a question about a certificate or want to better understand what’s in there, feel free to reach out.

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