The Condo Turnover Meeting in Ontario: When Owners Take Control From the Builder

When a new condo building is registered, the developer doesn’t just build it — for a period afterward, the developer also runs it, sitting on the board and making the corporation’s early decisions. At some point, that changes. Ownership and control shift from the builder to the people who actually bought the units.

That shift happens at what’s commonly called the condo turnover meeting — a milestone event for any new building, and one that matters enormously to early buyers, even if most of them never think about it until it’s happening around them.

This guide walks through what turnover means, what happens before and during the meeting, and why it’s one of the more consequential events in a new condo’s early life.

Before Turnover: Life Under Developer Control

When a condominium is first registered, the developer typically appoints the initial board of directors — often employees or representatives of the builder itself. During this period, the developer-controlled board handles early decisions: hiring the first property manager, setting the initial budget, and managing the building through its first months or years of occupancy.

This arrangement exists out of practical necessity — someone has to run the corporation from day one, and not enough owners have moved in yet to hold a meaningful election. But it also means, during this window, the people making decisions about the building aren’t yet accountable to the owners who live in it in the same way an elected board is.

What the Turnover Meeting Is

Ontario’s Condominium Act, 1998 requires the developer to call a meeting of owners once a legislated threshold of units has been transferred to purchasers — the turnover meeting, sometimes called the first "true" annual general meeting, distinct from any earlier organizational meeting. At this meeting, the developer-appointed board resigns, and owners elect a new board made up of unit owners themselves.

The exact threshold and timing for when this meeting must be called are set out in the Act and its regulations. Because these figures can be technical and matter if you’re navigating one, your lawyer or condo manager should confirm the current requirements rather than relying on a general summary.

What Typically Happens at the Meeting

• The developer presents a summary of the corporation’s affairs to date — its finances, contracts, and any material issues.
• The developer-appointed directors resign.
• Owners hold an election for a new, owner-elected board.
• The new board formally takes over responsibility for the corporation going forward.

Why Turnover Matters to Early Buyers

For the first wave of buyers in a new building, turnover is the point at which the people living in the building — not the company that sold it to them — start making the decisions that affect their monthly fees, their reserve fund, and how the property is maintained.

It’s also, practically, an opportunity to look closely at what the developer has left behind: the state of the initial budget, whether reserve fund contributions have been adequate, whether required studies and reports are in order, and whether any construction deficiencies have been properly addressed or are still outstanding.

After Turnover: What Changes (and What Doesn’t)

• Board composition changes — from developer-appointed to owner-elected.
• Ongoing warranty and deficiency processes continue separately. Turnover doesn’t end a builder’s Tarion warranty obligations or the process for chasing outstanding deficiency repairs; those run on their own track.
• The corporation’s legal existence doesn’t change. Contracts, insurance, and obligations the corporation entered into before turnover carry forward.
• Owners gain the practical levers of governance. The new board can revisit contracts (such as the management agreement), commission independent reviews, and set its own priorities.

Frequently asked questions