Owner FAQ: The Administrator, Update No. 1
Answers to common owner questions on insurance, property managers, tenants and leases, fees, nominations, keys and emergencies. Every quote is sourced.
Videos from @siregged
Short explainers posted on Instagram by @siregged (SIREG Condo Owners Network). Videos play on Instagram — we link out rather than hosting the files. General information only; not legal advice.
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Where did our repair savings go? 🏢
We read the latest audited financial statements for 27 SIREG-managed condo buildings. Here's what they show: 💰 $5.57M in reserve funds on paper 🏦 Only $459K was cash in the bank 📄 $4.08M was owed to…
The LDDC town hall in under 5 minutes 🏢
On Oct 6, LDDC Lawyers met with condo owners about asking the court to appoint a temporary administrator to run each affected condo corporation. The administrator would secure the money and records,…
756 Kipps Lane owners: do you know what a leak could cost you? 💧
In August 2024, By-law 6 changed who pays the insurance deductible, the part of a repair the building's insurance doesn't cover. Before, all owners usually shared it. Now you can be billed up to the deductible for…
In 2024, new by-laws changed some big things at 756 Kipps Lane. Directors now serve 3-year terms instead of 1, the head office moved to Burlington, and the board now picks where the yearly owners' meeting is held.
This short video puts what the rules say next to what the January 13 proxy form showed when owners got it. The manager was already named as the proxy, and "Yes" was already ticked. You have choices: ✅ Read the whole…
Two legal tracks owners keep asking about: LDDC vs MLF.
Same crisis. Different legal questions. • LDDC: condo counsel (Condo Act · your building · s.131) • MLF: investor group action (claims · separate retainer) Expression of interest for LDDC:…
Your property manager's debts aren't the same as your condo corporation's debts.
- Your corporation is a separate corporation whose members are the owners - The manager is a separate company hired by contract - Money received for your corporation must be held in trust (Condominium Act s.115)…
What happened to $5.7M of unsecured creditor and what it might mean for owners. Not Legal Advice. #ontariocondos #SIREG @siregged
Who's who in the SIREG Management insolvency:
- The company: SIREG Management Inc. - The trustee: AlixPartners Restructuring Inc., reporting to the court and the Official Receiver - The creditors: vote on any proposal - Your condo corporation, its board, and…
What is a court-appointed condo administrator? (Condominium Act, 1998, s.131)
- Appointed by the Superior Court of Justice - Takes over the powers the court order gives it - The corporation, an owner, or a mortgagee can apply - Courts call it a last resort - Fees are usually paid by the…
Where are SIREG's unpaid utility bills? We mapped them. $2.81M is owed to 26 utility creditors, more than half of the $5.07M total (preliminary list, Sept 24, 2026).
Then one building's audited statements: at 756 Kipps Lane, London, SIREG Management owed $128,385 of the reserve fund at July 31, 2025. The reserve held $15,479 in cash and investments. Ask your board for your…
What is happening with SIREG? 🏢
If SIREG manages your condo unit, here's a plain-language summary of what's been reported: liquidity problems, a licence suspension by Ontario's condo management regulator, and insolvency notices filed by 14…
Own a condo managed by SIREG?
Since September, SIREG has flagged liquidity problems, the CMRAO has suspended SIREG Management's licence, and 14 SIREG-associated companies have filed insolvency notices under the Bankruptcy and Insolvency Act. Your…