All property managers must be licensed to comply with Ontario laws and regulations. There are three levels of license available to individuals:
Limited License. This level of license is for managers in training or who have less than 2 years of property management experience. The holder of a limited license must be overseen by a supervisory licensee and cannot access reserve funds, enter into agreements, or make expenditures over $500 without the supervisor's prior approval.
Transitional General License. This is an intermediary license for managers who are working towards completion of the Registered Condominium Manager (RCM) course and have more than 2 years experience. The licensee must acquire their General License within 3 years. Transitional General Licensees have until June 30, 2021, to complete the educational requirements and obtain a General License.
General License. Property managers must complete the RCM course (or equivalent thereof) and have the required experience to obtain their general license.
In addition, Ontario legislation requires companies that provide property management services to condominium corporations to hold a Condominium Management Provider License.