What Is a Status Certificate? | Ontario Condo Buying Guide

by Ross Mogridge

If you're buying a condo in Ontario, you'll likely hear the term 'status certificate'—and it’s a document you do *not* want to skip.

The status certificate gives you a snapshot of the condo’s financial health, legal standing, and any upcoming issues that could affect your ownership.

It includes details like:

- Current monthly maintenance fees and any expected increases
- Reserve fund balance and recent studies
- Legal actions involving the condo corporation
- Rules, restrictions, and by-laws (like pet policies or renovations)

Before your purchase is firm, your lawyer will review the status certificate to flag any red flags. Some lenders also require it before approving your mortgage.

💡 Ridge Pro Tip: Even if the condo looks amazing on the outside, the status certificate reveals what’s happening behind the scenes.

🔗 Related Articles: How to Read a Condo Listing, What Does a Real Estate Lawyer Do?

📘 Ridge Estate helps you decode every page of your condo’s status certificate—so you know exactly what you're getting into.