Uncover hidden red flags in condo documents and learn practical strategies to protect your real estate clients from costly structural and financial liabilities before closing.
Condominium transactions form a substantial part of real estate practice in Ontario, and while status certificates remain the primary disclosure tool, they often provide only a snapshot of a much broader and more complex financial reality. Increasing capital repair demands, aging building stock, inflationary pressure, and evolving reserve fund requirements mean that lawyers must look beyond formal compliance indicators to properly assess financial risk in condominium corporations.
This session equips real estate practitioners with a practical framework for evaluating the underlying financial health of condominium corporations in both purchase and sale transactions. It focuses on how to interpret status certificate disclosures in context, identify early warning signs of reserve fund inadequacy, assess the implications of deferred maintenance, and understand how future financial obligations may impact unit owners. The program also examines the role of reserve fund studies, special assessments, and borrowing strategies in addressing capital shortfalls, and how these mechanisms can materially affect transaction risk.
Key Topics Discussed:
Director, Licensed Condominium Manager | Condominium Lending Group
With over 20 years of experience in the condominium sector, Lyndsey McNally is a recognized expert in condominium finance, governance, and risk. Beginning her career in condominium management, she has held senior roles spanning operations, financial oversight, and policy governance, bringing a comprehensive, ground-level understanding of how condominium corporations function. Lyndsey is a licensed condominium manager, holds multiple industry designations including LCCI, CCI(Hon’s), and FCCI, and was named Property Manager of the Year by the Association of Condominium Managers of Ontario. As Director at Condominium Lending Group, she works closely with boards and advisors to structure financing solutions for major capital repairs and funding gaps. A former President of the Canadian Condominium Institute (Toronto & Area Chapter), subject matter expert for the Condominium Management Regulatory Authority of Ontario, and a faculty instructor at Humber College, Lyndsey focuses on helping professionals identify forward-looking financial risks, particularly those not immediately visible in standard status certificate reviews.
