Ontario Condominium Management Competency

Common Expenses for Condominium Managers (CNDO 009)

Humber College's CMRAO Continuing Professional Education (CPE) course, Common Expense Management for an Empowered Condominium Professional, empowers condominium managers with essential knowledge on common element fees, the declaration and financial statements.  

By the end of this course learners will:

• Learn how to collect the common expense.

By the end of each module, you should be able to:

• Module 1: Common Elements

  • Differentiate between freehold condominium and leasehold condominium corporation.

  • Explain the critical role of the declaration.

  • Identify the contents of the declaration.

• Module 2: Common Expense Fees

  • Identify common expenses for condominium corporations.

  • Differentiate between special assessments and chargebacks.

  • Discuss strategies to minimize the risk of special assessments and chargebacks.

• Module 3: Annual Budget

  • Explain the purpose of a financial statement

  • Discuss how the operational fund can impact adjustments to the common expense fee.

  • Identify the steps in the lien process.

Condominium Management - Financials (CNDO 105)

The Condominium Management - Financials course is designed to give condominium managers a basic understanding of the relevant aspects of financial management. It is one of the core foundational courses to ensure that condominium managers have the technical context for the main responsibilities of their role.

Reserve Fund Study for Condominium Managers (CNDO 008)

This course empowers condominium managers with essential knowledge on reserve fund studies including types, content, specialists to involve and effective investment strategies. This course is recognized as one CMRAO CPE credit. 

• Module 1: 

  • Differentiate between a reserve fund and  a reserve fund study.

  • Explain the critical role of a reserve fund. 

  • Identify effective strategies for communicating the importance of reserve fund contributions to condominium owners.

• Module 2: 

  • Identify the persons of a prescribed class who can conduct a reserve fund study.

  • Differentiate the physical analysis and financial analysis content to include in a reserve fund study.

  • Explain each of the reserve fund study classes including the completion timelines.

• Module 3: 

  • Explain the purpose of a preliminary reserve fund.

  • Discuss the importance of key players such as experienced reserve fund study providers, financial experts and specialized lawyers for effective reserve fund management.

  • Employ a well-planned investment strategy for the financial stability of the condominium.

This course is self-paced. Learners have 30 days from the date of enrolment to complete the course.

Strategic and Financial Planning for Property Managers (NIHM 202)

This course is designed to provide a complete review of the accounting process and principles, the managerial use of accounting and financial statements and their analysis and budget preparation procedures for property managers. In addition, the techniques and approaches for establishing and organizing objectives and implementing strategies will be discussed. Topics will include the accounting cycle; revenue and expenditure forecasting; establishment of operating and capital budgets; monitoring, controlling and reconciling budgets; the audit process; mission statements, goals and objectives; implication strategies; target dates and review schedules; and operational reviews.