GUIDE
CAO Guide on Governing Condos
The guide provides directors with practical information on board structure, composition, responsibilities, culture, as well as best practices for by-laws, risk management, maintaining a positive relationship with owners and more.
About the guide
This guide explains the difference between governance and operations and goes over governance best practices for boards. The guide is particularly useful to boards that do not use professional condo management services.
What is Condo Governance
Condo board governance refers to the processes by which the board directs and controls the condo corporation. Effective governance is an essential part of a high-functioning corporation and a strong and vibrant condo community.
The CAO’s four foundations of good governance:
- Developing key competencies of good governance
- Meeting the standard of care
- Establishing proper condo board composition
- Maintaining good owner relations
Condo board structure, composition and responsibilities
This section explains the structure of the condo board and its responsibilities.
- Condo board structure requirements and minimum condo board size
- Term length and term limits
- Officers of the condo board
- Developing a skills matrix
Condo board and focusing on the right things
This section expands more about how a condo board conducts business.
- How condo boards conduct business
- What do effective condo boards talk about
- Staying on the right “Level” for condo board discussions
- Asking the right questions
- Periodic strategic self-evaluation
- Conflict resolution
- Director indemnification and liability insurance
- Director disclosure and Conflict of interest
The importance of the condo corporation's by-laws
This section explains more about what by-laws are how they can be enforced.
- Your condo corporation’s by-laws
- By-Laws best practices
- Passing or amending your condo corporation’s By-Laws
Condo risk management
Some of the key elements of risk management as it pertains to the work of condo boards are outlined below.
- Key steps in risk management
- Timing
- Risk management process
Transparency and maintaining a positive relationship with the owners
This section explains the benefits of keeping the owners informed about owners’ meetings and other scenarios.
- Keeping owners informed of board decisions on their behalf
- Owners’ meetings
- Enhancing communication with owners
- Forming committees of owners
- Encouraging participation at owner’s meetings
- Collecting owner feedback
- Responding to owner request for records
Director training overview
The Condo Authority has created mandatory Director Training Module on governance for condo directors. The online training consists of 26 modules covering other important topics to help directors govern and carry out their responsibilities.
