Property managers must be extremely careful in the preparation of Status Certificates, as they may be found liable for any damages or costs incurred by a condominium corporation as a result of inaccuracies. In the recent decision of MTCC 673 v. St. George, the court ordered a property management company to reimburse a Corporation for the $97,182.68 in legal fees it spent to defend a court application arising out of a deficient status certificate plus an additional $42,000 in legal fees incurred by the Corporation to pursue the matter against the management company. Sometimes a quick call to counsel can help avoid an unfortunate situation. Questions about status certificate wording can usually be resolved in a matter of minutes.
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