Frequently Asked Questions

As a director, you will help manage the corporation's affairs, property, and assets, ensuring that day-to-day operations run smoothly and that the long-term health of the building is protected. You will also work to guarantee that both you and the wider condo community adhere to the Condominium Act and the corporation's governing documents, upholding legal requirements and best practices in governance.

First, confirm the date and time of the next Annual Meeting of Owners (AGM) and make sure the condominium manager has your current contact information. When the meeting package is distributed, it will include detailed instructions on the nomination process, deadlines, and any forms you need to complete in order to formally submit your candidacy for election.

After the election, the Harkoda manager will provide all newly elected directors with a "New Director's Binder." This comprehensive package contains the key governing documents, financial overviews, meeting protocols, and other resources you'll need to get up to speed quickly and ensure a smooth transition into your duties.

Under the Condominium Act, all directors must complete the Condominium Authority of Ontario's (CAO) mandatory online training within six months of their election or appointment, unless they have already taken it within the last seven years. This free training consists of 26 self-paced e-modules (approximately seven hours total) and includes interactive knowledge checks. You can work through the modules at your own pace, and they're designed to give you a solid grounding in your new responsibilities.

Directors must act honestly and in good faith and exercise the care, diligence, and skill of a reasonably prudent person in comparable circumstances, as set out in Section 37 of the Condominium Act. In practice this means making informed decisions in the corporation's best interest, relying on qualified professionals where appropriate, and avoiding negligence in how the building and its finances are managed.

The Board is responsible for preparing and managing the annual operating budget, collecting common expense contributions (condo fees), and approving expenditures. It must also maintain an adequately funded reserve fund based on a periodic reserve fund study, keep accurate financial records, and ensure audited financial statements are prepared and presented to owners each year.

While a licensed condominium manager or management company handles day-to-day operations, the Board remains accountable for the corporation. Effective oversight means setting clear expectations, reviewing regular reporting, monitoring performance against the management agreement, ensuring compliance with the Condominium Act, and retaining the key governance decisions rather than delegating them entirely.

A conflict of interest arises when a director has a direct or indirect personal or financial interest in a matter before the Board, such as a contract involving a company they are connected to. Under the Condominium Act, the director must disclose the interest, have it recorded in the minutes, refrain from voting on the matter, and, where appropriate, step away from the discussion.

The Act primarily recognizes the Annual General Meeting (AGM), which must be held within six months of the corporation's fiscal year-end to present financial statements and elect directors, and requisition (special) meetings, which owners holding at least 15% of the units can call to address specific issues such as removing a director or reviewing a particular decision.