Whether you’re a new condo owner, a freshly elected board member, or a seasoned condominium manager, the turnover meeting is your community’s first major milestone and one of its most important.
A turnover meeting isn’t just a formality. It’s where control of the condominium corporation shifts from the developer to the owners and where financials are reviewed, documents are handed over, and the foundation for good governance is laid.
What is a Turnover Meeting?
A turnover meeting is triggered when more than 50% of units have been sold and transferred from the developer to the unit owners. At this point, the developer is required to call a turnover meeting.
There are two main purposes of a turnover meeting:
- To elect a new board of directors and transfer control from the developer to the unit owners; and
- To provide the new board of directors with a comprehensive package of documents
Some of the key documents which are turned over include:
- Declaration, bylaws and rules
- Budget
- Architectural and engineering drawings
- Tarion warranty information
- Insurance certificates
- Service contracts, utility and submetering information
- Minute book and corporate seal
Best Practices for a Successful Turnover Meeting
- For developers, early coordination with legal counsel is essential to ensure that all required turnover materials are complete, accurate, and ready for delivery well in advance of the meeting.
- Owners should take time to review both the preliminary notice and the notice of meeting. If they are unable to attend, completing a proxy form and submitting votes early, where advance voting is permitted, helps ensure quorum and participation.
- Unit owners running for the board should submit their candidate disclosure forms and resumes to management within the required timeframe. Preparing a brief speech or statement to present during the meeting is also recommended to help communicate qualifications to owners.
- For property managers, preparation involves more than logistics. They are responsible for issuing timely notices, coordinating with the moderator, chairperson, scrutineers, and minute-takers for quorum tracking, voting, and minute-taking, and supporting the newly elected board as they transition into their governance role.
Overall, the turnover meeting is more than a procedural milestone, it’s the foundation for a well-governed, transparent, and thriving condominium community. By approaching the turnover process with preparation, clarity, and collaboration, everyone can ensure a smooth transition that sets the tone for responsible governance and long-term success.
