Humber/Ontario Real Estate Course 1 Exam Practice

Under which statute do guidelines for condominium management companies' operations fall?

1. Condominium Act of Ontario

2. Condominium Management Services Act

3. Residential Tenancies Act

4. Condominium and Co-operative Act

5. Real Estate Business Brokers Act

6. Real Estate Act of Ontario

The correct answer is: Condominium Management Services Act

The guidelines for condominium management companies' operations fall under the Condominium Management Services Act. This act specifically regulates the licensing and operation of condominium management providers in Ontario. The other options, such as the Condominium Act of Ontario, pertain more to the overall governance of condominium corporations rather than focusing on the specific guidelines for management companies. The Residential Tenancies Act deals with rental agreements for residential properties, while the Condominium and Co-operative Act primarily governs co-operative housing corporations. The Real Estate Business Brokers Act and Real Estate Act of Ontario are more related to regulations surrounding real estate professionals and transactions, which are not directly tied to the operations of condominium management companies.