SIREG Management sent owners a transition notice on October 13, 2026. In short: owners get their units and tenants back, and SIREG will help buildings organize. The notice does not say what happens to the condo corporations' money, and it does not solve the insurance problem.
The good news
- Tenancies end. SIREG is stepping out of its rental arrangements. Each owner is to receive the lease and the tenant's details for their own unit.
- Owner lists. In every building, owners are to be emailed the contact details of their fellow owners, plus the declaration, by-laws and rules.
- Electing a board. SIREG accepts that, with no directors left, owners may call their own meeting under section 34(5) of the Condominium Act.
What is missing
- Condo funds. Nothing is said about operating or reserve money SIREG Management holds for the corporations. That money is the corporations', not SIREG's, and it must be secured and returned.
- Insurance. The law requires each corporation to insure its building. Today no one is authorized to renew a policy, and some renewals fall within days.
- Paying the bills. Utilities, maintenance and contractors still need to be paid, and someone has to control the bank account. At the moment nobody can.
- Speed. An administrator named by the court has authority from day one. A meeting called by owners needs at least 15 days' notice and enough owners present to count. Even then, the new directors must still set up banking, hire a manager and buy insurance. That realistically takes weeks.
Is an administrator still needed?
Yes. Motions in the court case will keep affecting units, rents and corporation money, so owners still need legal representation there. Without an administrator, owners would have to trust SIREG to hand over every record, account and dollar, with no one able to make it do so.
LDDC, the law firm for a group of owners, said it would issue guidance after the October 13 hearing, and suggested its clients hold off on further steps until then.
