What are the obligations imposed on licensees by CMRAO referred to as?

The obligations imposed on licensees by the Condominium Management Regulatory Authority of Ontario (CMRAO) are referred to as Compliance Charges. These charges are designed to ensure that condominium managers adhere to regulations and standards set forth under the Condominium Management Services Act. They encompass the responsibilities that licensees must fulfill to maintain their license, comply with the regulations, and uphold the integrity of condominium management.

Understanding that these obligations represent a framework for achieving compliance helps illuminate the purpose behind them. They ultimately aim to protect the interests of condominium owners and promote fair treatment within condominium communities. Being aware of compliance charges is crucial for those in the field, as these charges can have serious implications for licensees who fail to meet their obligations.

The other terms listed, while they might describe various types of financial obligations, do not specifically capture the regulatory nature of the charges related to compliance with CMRAO requirements.