For owners of SIREG-managed condo units

Your unit is coming back to you. We’ll take it from there.

SIREG is now bankrupt. On October 20 the Ontario Superior Court ended its proposal proceedings, and SIREG had already surrendered its tenancy on each condo unit to the owner by written notice. That makes you the landlord of a sitting tenant, with no manager in place. Catana Property Management handles the Trustee, the handover, your tenant and your rent.

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Catana Property Management Corp. · Kitchener, Ontario · managing condo units for SIREG owners since October 1, 2026

The short version

What this means for you

Updated October 21, 2026, from the public court record and SIREG’s notices to owners and tenants.

1

SIREG is out

SIREG has surrendered its tenancies and is now bankrupt. Keys and records come back through the Trustee, AlixPartners, which hasn’t set dates yet.

2

Your tenant stays

The tenancy moves to you on its existing terms. No new lease, no vacancy, no leasing fee.

3

The money is a separate fight

Getting your unit back doesn’t recover the rent SIREG owes you or the deposits it held. Those are claims in the bankruptcy.

4

Be ready on day one

Sign with us now. We deal with SIREG and the Trustee for you and take over the day your unit comes back.

Where things stand

What the court has done

From the public record of SIREG’s insolvency in the Ontario Superior Court of Justice (Commercial List).

SIREG managed about 2,200 units in 43 condominium buildings for individual owners. On October 7, SIREG and its Proposal Trustee, AlixPartners, told the court that a restructuring or sale was not possible and that the group would be wound down.

October 15. Justice Steele appointed Brian Antman as administrator of 24 of the condo corporations, whose boards had resigned. He holds the boards’ powers, can set budgets and collect common expenses, including special assessments, and must call owner meetings within 30 days to elect interim “shadow” boards. The remaining corporations are before the court on October 22.

October 19. The CMRAO revoked SIREG Management’s condo management licence. The same day, the Trustee reported that the group has no funding for operations or staff beyond October 20, and that the work left is returning available condo keys to owners and preserving and transferring SIREG’s books and records.

October 20. The court ended the proposal proceedings. SIREG Management and its related companies are deemed to have made an assignment in bankruptcy, and AlixPartners administers the estates as trustee.

Your tenancy didn’t need a court order. SIREG had already told owners it was surrendering its tenancy on each unit, and in mid-October it wrote to tenants telling them to pay no further rent to SIREG and to pay the owner, or whoever the owner directs, instead.

Read the October 15 order, the Trustee’s first report and the October 20 endorsement (PDFs).

  1. September 2026
    Owner payments stopSIREG cites “market and liquidity challenges” and suspends payments to owners.
  2. September 17
    Condo boards resignThe boards of all 43 condo corporations resign.
  3. September 25
    Notice of Intention filedSIREG files under the Bankruptcy and Insolvency Act. AlixPartners becomes Proposal Trustee.
  4. September 29
    Licence suspendedThe CMRAO suspends SIREG’s condo manager licence.
  5. October 7
    Wind-down announcedSIREG and the Trustee seek orders to transfer tenancies to owners.
  6. Week of October 12
    SIREG notifies ownersIt says it will surrender its tenancies and hand each unit back to the owner as soon as possible.
  7. October 15
    Administrator appointedThe court appoints Brian Antman to run 24 condo corporations until owners elect boards.
  8. Mid-October
    SIREG writes to tenantsIt tells tenants to pay no further rent to SIREG.
  9. October 19
    Licence revokedThe CMRAO revokes SIREG’s condo manager licence.
  10. October 20
    BankruptcyThe court ends the proposal proceedings. SIREG’s companies are deemed bankrupt.
  11. October 22
    Remaining condo corporationsThe court hears the corporations not yet under the administrator. We’ll update this page.
Know what you’re getting back

What you get back, and what you don’t

What you get back

  • The landlord’s position on your unit’s existing tenancy, which SIREG has surrendered.
  • A vote, through owner meetings, on a board for your condo corporation.
  • No lawsuit needed to take your unit back.

What it doesn’t fix

  • Rent SIREG owes you. That’s an unsecured claim in the bankruptcy.
  • Tenant deposits SIREG collected and kept.
  • Rent SIREG already collected from your tenant.

Summary of the public court record and SIREG’s notices, not legal advice.

How it works

What we do for you

You sign once. We do the legwork, before and after the transfer.

You sign our owner packageBy DocuSign, about 10 minutes. Photo ID and your tax bill or deed. One-time $99 setup fee; no monthly fee until your unit is back.
We deal with SIREG and the TrusteeIn your name: we collect the lease and tenant information SIREG sends, the rent ledger, deposit records and keys, and help with your proof of claim.
Handover dayYour tenant gets a written notice signed by you, naming Catana PM as your manager and saying where to pay. No pressure, no threats.
Every month afterRent collected, net rent paid to you with a statement, repairs handled, a 24/7 emergency line.
Pricing

A percentage of rent, not a flat fee

You pay a share of the rent actually collected. On a typical $1,300 condo, our Standard package is about $91 a month, roughly 40% to 55% less than the $149 to $199 flat fees other property managers are quoting SIREG owners. A one-time $99 setup fee per unit, then no monthly fee until your unit is back with you, and no leasing fee for a tenant who is already there.

On a $1,300 condo
$58 to $108
less per month than the flat fees other managers are quoting
Up to $1,296 a year back in your pocket.
Monthly rent $1,300 $1,600 $2,000
Catana PM Standard (7%) $91 $112 $140
Catana PM Premium (9%) $117 $144 $180
Other managers’ flat fees $149 to $199 per unit per month

Monthly management fee, before HST. Flat-fee range from other property managers’ public offers to SIREG owners, October 2026. Premium adds a second yearly inspection, a re-leasing warranty, priority response and CRA non-resident withholding. Other services, such as finding a new tenant or coordinating large repairs, are billed under our fee schedule.

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Where we work

Southwestern Ontario & Niagara

You can live anywhere. Your unit needs to be in one of these areas.

  • Kitchener, Waterloo & Cambridge
  • Guelph
  • London
  • Hamilton
  • Brantford
  • Woodstock
  • Tillsonburg
  • Stratford, Perth County & Listowel
  • Sarnia
  • St. Catharines
Questions

What SIREG owners are asking

Has SIREG handed my unit back?
Yes, by notice. SIREG told owners it was surrendering its tenancies, and from mid-October it emailed owners a Tenant Information Package for each unit with the lease and tenant details it had. Some packages are incomplete, and a few came without a lease. Keys and the remaining records come through the Trustee, which hasn’t set dates. If you haven’t received your package, tell us and we’ll follow up with the Trustee.
What should I do right now?
Sign our owner package so we can deal with the Trustee in your name, and forward us anything SIREG, AlixPartners or the administrator sends you. There’s no need to send SIREG a termination notice: it has surrendered its tenancies and is now bankrupt. Speak with your lawyer before taking any step against SIREG directly.
Who tells my tenant about the change?
You do, and we make it easy. SIREG’s notice asks owners who appoint a manager to tell the tenant directly, so the tenant has clear instructions from the owner. We prepare a short written notice for you to sign. It confirms you are the landlord, names Catana Property Management as your manager and says where to pay rent from a set date. It never threatens eviction: a change of landlord is not a reason to end a tenancy.
What did the court decide?
Two orders matter for owners. On October 15 the court appointed Brian Antman as administrator of 24 condo corporations; he runs the corporation and its common elements, not your unit. On October 20 it ended SIREG’s proposal proceedings, so SIREG’s companies are deemed bankrupt, with AlixPartners as trustee. Neither order deals with your tenant’s lease, which continues with you as landlord after SIREG’s surrender. Read the October 15 order (PDF).
Will I get my unpaid rent back?
Probably not much of it. Rent SIREG owes you is an unsecured claim in the bankruptcy. The Trustee reports that the group has no funding for operations, and the court has let secured lenders enforce against the buildings the group owned. The Trustee will send claim forms to creditors. We help you prepare yours, and you sign and file it.
What about my tenant’s last month’s rent deposit?
Ask your lawyer about this one. In Ontario a landlord generally has to honour a tenant’s last month’s rent deposit, so it matters whether SIREG passes the deposit over with the tenancy. We request the deposit records from the Trustee and put them on your tenant’s file.
Are my condo fees paid up?
Check. Ontario’s condo management regulator found that SIREG had not deposited money it collected for client condominium corporations into the corporations’ own accounts, and the administrator believes condo funds were mixed into SIREG’s accounts. For the 24 corporations under the administrator, he now sets the budget and collects common expenses, which can include special assessments, and he must call owner meetings to elect interim boards. The other corporations are before the court on October 22. Ask for a status of your unit’s common expenses, and send us any fee notice you receive. The Condominium Authority of Ontario has guidance and forms for SIREG buildings, and the CMRAO has information for owners and tenants.
I don’t live near the unit, or I live outside Canada. Can you still help?
Yes. Most of our SIREG owners don’t live in the building’s city. We sign everything by DocuSign, pay out net rent monthly and send statements. For non-resident owners, our Premium package includes acting as your CRA non-resident withholding agent at no extra charge.
I own several SIREG units. Is there a multi-unit rate?
Ask us. Owners bringing several units together get a group rate.
Is Catana Property Management a law firm?
No. We manage rental property and we work alongside your lawyer, not instead of one. This page summarizes public court filings and news reports. For advice on your own position, speak with an insolvency lawyer.

Talk to a person today.

Fifteen minutes is enough to see where your unit stands and what we need from you.

Book a callCall (226) 507-2118management@catanateam.ca
Catana Property Management Corp. · 548 Nathalie Cres, Kitchener, ON N2E 0H8
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