Does anyone know about the property management company recruitment process?... I don't know how that works for new condos. I guess it's selected by the board once the board is established?
There are three stages involved.
Fiirst, during initial occupancy, prior to registration, the new building is managed directly by the developer. The developer (the proper term for this role is the Declarant) chooses and hires the initial property manager. There may also be special considerations provided by the property manager in exchange for the contract - assistance in preparing the condominium documents, in particular the declaration, and the table of unit fees and so on. The property management company may also pay a rebate to the developer (i.e. a door charge or fee for each unit in the building. Similar to what certain telecom companies are understood to do, in order to get an exclusivity on the provision of the initial telecommunications services in the building).
Secondly, after the building has registered, an interim Board, known as the Declarant's Board, is responsible for managing the building. The developer appoints each of the members of the board - typically staff members of the development company. Normally, the Declarant's Board does not make any changes to the operational management of the building by the developer, and the property manager company that was hired by the developer continues in place.
The third, and final phase, is after the Turnover Meeting, when the Owner's Board is elected. The new Board has the legal right, for one year from the turnover meeting, to terminate contracts entered into by the Declarant and the Declarant's Board, including terminating the property management company hired by the developer, and replacing it with on of the condominium corporation's choosing. It is important to be aware of this right, we were not advised of it by our first legal advisor, as a consequence of this, and some other missteps, we parted ways with him very quickly.
The unilateral right to cancel contracts, including those of the property management company, does come with some restrictions under the Condominium act. The restrictions primarily pertain to services in which a third party has made some investment in the building - such as the aforementioned telecom services. I am not sure of the specific requirements with respect to provision of and billing by the energy sub-metering systems or third-party installation of EV charging systems - the new act may have changed some of these terms. You will need to check with your new corporations legal advisor once the new Board has been elected, and an independent legal advisor has been retained.
not sure about the floor 7 one though