Condex checks for disclosed legal proceedings and special assessments — issues that could affect the corporation's finances or create additional costs for owners.
The status certificate discloses no legal proceedings and no special assessment. This is a statement about the reviewed documents, not a guarantee that none will arise.
Status is Low concern: Condex rates both legal measures at 100/100 out of 100 with nothing disclosed.
Part of every maintenance fee is set aside for major future repairs. Condex looks at how much that required contribution is increasing and whether it is putting more pressure on fees than at similar buildings.This section measures one source of maintenance-fee pressure, not a prediction of the total future maintenance-fee increase.
The corporation's next scheduled reserve increase (FY2024) lifts its reserve contribution from $148,141 to $162,040. Because reserve funding is only one part of what owners pay, that works out to roughly 4.3% of maintenance fees — above the 0.6% typical among comparable buildings.
Based on 5 of 10 comparable buildings. This comparison needs both a current funding notice and a common-expense figure on file.
Status is Low concern because Condex rates this pressure at 80/100 out of 100 — little pressure on its own scale. This is not a prediction of your fee increase: utilities, insurance, management and repair costs move separately and are not included here.
A building that needs to strengthen its repair fund may have to increase what it sets aside each year. Condex looks at the building's certified plan to see whether those increases are unusually large, how long they continue, and whether they are easing.This is the funding trajectory question, distinct from how much cash is currently saved.
Condex reads the corporation's own certified reserve plan. It isolates the catch-up stretch of that plan — the run of larger, uneven contribution increases a corporation schedules when it has to make up lost ground — and puts it at 45 points on a 0–100 scale, where higher means a longer, steeper catch-up (the study does not state how long the catch-up runs).
The funding notice schedules median increases of 3.5% a year over 1 scored year, against the study's own assumed inflation of 3.0%.
Status is Watch: Condex reads this as a catch-up worth attention. Corporations that never fell behind show no catch-up years at all; ones in trouble can run them for a decade or more. No peer comparison is used — the reading comes from the building's own plan.
Condo corporations keep money aside for major work such as roofs, elevators and garages. Condex compares this building's current savings per unit with similar buildings to show how strong its starting position is.This is the current reserve position, distinct from the future funding trajectory.
Per unit, $6,085 is set aside as at 31 December 2024, against $9,795 for a typical comparable building — -38% versus typical. Based on 10 of 10 comparable buildings with a reserve figure on file.
Status is Elevated concern: Condex rates the reserve position at 24/100 out of 100 and reads it as weak. A smaller reserve does not by itself mean a special assessment is coming, but the corporation has less saved than most of its peers for the same kind of work.
The share of units that are owner-occupied rather than leased, compared with similar buildings. Condex reports this as context; it does not treat either direction as a concern on its own.Reported as context. The status is Condex's own occupancy reading for this building, not a judgment about the building overall.
58% of units are owner-occupied, against 85% for a typical comparable building. The status certificate records 22 of 52 units as leased. Based on 7 of 10 comparable buildings.
Status is Typical: that is the reading Condex's own occupancy measure gives this building, which weighs the share of units leased first and then compares it with similar buildings. Occupancy is context about who lives here — on its own it does not determine the quality of the building.
The comprehensive report for this same building goes behind the grade. Here is a look at three of its sections.
Every measure behind the score, with its weight and result.
How each one graded, next to this building.
Highlighted: this building, ranked 10 of 11.
The 31-year reserve study, finances and every rule that matters, ranked.
The five areas above are Condex's assessment of the building. What follows is supporting information about this unit, the rules, the documents reviewed, and the corporation itself. None of it changes the building grade.
Taken from the documents — not Condex analysis.
Arrears and unit-specific obligations are not extracted by Condex; confirm them with your lawyer from paragraphs 6–9 of the status certificate.
Pulled from the declaration, by-laws and rules in this package. Where a rule is not stated in the reviewed documents, Condex says so rather than inferring it.
Seven document categories make up a normal Ontario status-certificate package. All seven were received in the reviewed package. certificate dated 31 January 2025.
| Normal status-package document | As uploaded |
|---|---|
| Status certificate (Form 13) | dated 31 January 2025 |
| Budget | FY ending 30 September 2023 |
| Audited financial statements | FY ended 30 September 2023 |
| Certificate of insurance | Received |
| Declaration | Received |
| By-laws and rules | Received |
| Notice of future funding | study dated 12 August 2021 |
Neither is a normal status-certificate attachment, so their absence is not a gap in the package — but either one materially improves what Condex can tell you.
Anything you add for this transaction reprocesses this report at no additional charge.
Source-backed facts from the reviewed documents, for reference. No scores or risk classifications appear here.
| Registered | 1980 |
| Units | 52residential |
| Storeys | 4 |
| Fiscal year end | 30 September 2023 |
| Reserve fund study | Class 2 study dated 12 August 2021 |
| Insured replacement value | $13,475,103 |
| Water damage deductible | $10,000 |
| General deductible | $10,000 |
| Sewer backup deductible | $10,000 |
| Flood deductible | $25,000 |
| Earthquake deductible | $50,000 |
| Liability limit | $5,000,000 |
| Directors & officers limit | $5,000,000 |
Condex reviews the documents provided and reports what they contain, with comparison to buildings of similar size, age, form and density. Where a document does not state something, Condex says so rather than inferring it. The grade is a mechanical map of the Condex score. Status labels are the plain-English presentation of that score's factors and are not a separate score. This report provides information and analytical context. It is not legal, financial, engineering or insurance advice, and it does not replace your lawyer's review of the status certificate.Condex Realtor Report · sample · identity removed
Upload the status certificate and Condex grades the building against similar ones. The basic report is free; the comprehensive report adds every factor, the comparable buildings and the document audit.
