Frequently Asked Questions
Education is key.
We Love to Educate!
The condominium world can be tricky to navigate. We encourage all current and potential owners to review all condominium documents in detail – knowledge is power, and the more you know, the more comfortable and confident you will be in your community. All condominiums are unique but we have provided some general information below:
I’m thinking of buying a condominium – what do I need to know?
When buying a condominium in Ontario, you should understand that you’re purchasing both an individual unit and a share of common areas (like hallways, lobbies, roadways and amenities). It’s important to review the status certificate, which provides details on the condominium corporation’s financial health, legal documents such as the rules, and other important information. Consulting a real estate lawyer with experience in condominiums can help you navigate the process. You may also refer to the Condominium Authority of Ontario Condo Registry to see if the corporation is following its legal obligations, and to the Condominium Management Regulatory Authority of Ontario’s Public Registry to ensure that the condominium manager and management company are in good standing.
I bought a condominium unit – what now?
Congratulations on your purchase! First, you will need to provide us with some information, all of which can be submitted here. It is important to familiarize yourself with the rules, from parking and noise to smoking and pets. Make sure you know how to access the amenities, who to contact for various services, and how to stay informed about meetings and important updates. Also confirm that your insurance broker has a copy of the condominium’s standard unit bylaw and insurance certificate; you must be adequately covered and each condominium is very different in what is needed. All documents are available in the Document Library of the community website.
What do I do if I have an after-hours emergency?
In the event of an after-hours emergency, such as ongoing property damage (due to a leak, sewer backup, etc.), unsafe or hazardous conditions (such as a stuck elevator) or interruptions to life safety equipment, please call:
(519) 824-4208 or (855) 824-4208
and your call will be answered by a live operator who will take down the details of your emergency and relay them to your manager immediately 24/7.
For emergencies during business hours, contact your manager by phone, or dial 0 to speak to Reception so that your emergency can be dealt with promptly. Please DO NOT report an emergency via email, either during or outside of business hours.
If the emergency poses a risk to safety or significant property damage, contact the appropriate emergency services (like 911) BEFORE calling management.
How much are my fees and how do I pay them?
Your condominium fees, also known as maintenance fees or common expense fees, are determined by the proportionate share that you own (the percentage is in the Declaration) and is usually (but not always!) based on the size of your unit. You can pay via pre-authorized payment, cash or post-dated cheques. Fees are always due by the 1st of each month and they cannot be withheld! All information concerning the condo fee will be in the budget package that can be found in the Document Library of your community website.
What is included in my fees?
Every condominium is unique and will have different items that are included in the monthly common expense fee. These fees can cover building maintenance, utilities, insurance, professional management and a reserve fund for future major repairs and replacement projects, among other items; however, the specific inclusions can vary by property. We recommend that you review the budget package in the Document Library of your community website in detail for further information.
Do I still need my own insurance?
Yes, you still need your own insurance, often referred to as “condo insurance” or “unit owner’s insurance.” While your monthly condominium fees typically cover the insurance for the building’s structure and common areas, your personal insurance is needed to protect your belongings, any improvements you’ve made to your unit and personal liability. This coverage ensures that if there’s a fire, theft, or other damage within your unit, your possessions and any associated costs are covered. It’s also crucial in case you’re found liable for damage to other units or common areas. If you rent out your unit, please ask your insurer about tenant insurance.
See what our clients are saying
“[Five Rivers Property Management Group] is a valuable and trusted professional partner of the RLB Condo Team. Their attention to detail and thorough accounting records make auditing the corporations they manage a dream! [Five Rivers] supports and contributes their expertise to the Canadian Condominium Institutes Grand River Chapter, which provides education to their condo Boards and the community at large.”
"Our condo has been managed by [Five Rivers Property Management Group] for almost 20 years now. We have benefited from their knowledge, expertise and support over these years. Managers are responsive and helpful as they work closely with our board of directors. Our building and community have grown with the professionalism of the staff at [Five Rivers] and the guidance they provide. I would recommend [Five Rivers] for any property management as trust and service are hallmarks of the company. Thank you to [Five Rivers] for all the hard work and collaboration over the years - and here's to many more ahead."
“Our self-managed condominium has contracted with [Five Rivers Property Management Group] to provide financial services, i.e., the Condo Books package, as of January 2021. We are very pleased with the service provided: the staff are very knowledgeable and provide consistent, organized, professional customer service. We can always count on timely and informative responses to our queries and needs.”
“[Five Rivers Property Management Group] has consistently demonstrated outstanding professionalism in managing our condominium community. Their excellent handling of resident issues, top-notch financial acumen with reports and prompt communication have earned our trust and confidence. We highly recommend their service to any condo board seeking a reliable and knowledgeable management partner.”
“Woodhouse Restorations loves partnering with [Five Rivers Property Management Group] because of their incredible friendliness, responsiveness, and professionalism. Their clear communication and supportive approach make every project a smooth and enjoyable experience. As a preferred contractor, we appreciate their resourcefulness and their commitment to confidentiality. [Five Rivers] truly stands out as a leader in the industry, and we look forward to many more successful projects with them!”
“Since 2016, [Five Rivers Property Management Group] has managed our property, being a large and busy building currently undergoing an exterior renovation. Our property manager is professional and knowledgeable which helps to keep our building running smoothly. We consider ourselves fortunate to have such valuable guidance.”
“I have been doing snow contracts and different jobs with [Five Rivers Property Management Group] for over 15 years now. They are very professional and easy to work with. They always have the best interests of the condo owner’s top of mind, and it shows in how the sites are run. They are one of our best clients!”
Interested in our services?
We offer a variety of management options. Not sure if professional property management is for you? We’re happy to chat and answer any questions you may have.