How long should we keep these records?

• Corporate records are kept permanently.
• Administrative records are kept for varying periods. Most financial records are kept for seven years. General ledger and financial statements are kept permanently. Guarantees and warranties are kept for the period they apply.
• The retention periods for operational records also vary. Keep building records such as drawings and specifications as long as the building exists, plus seven years. Information on service contracts is kept for the duration of each contract, plus seven years.
• Applicant files are kept until an applicant becomes a resident, then the applicant information forms part of the resident file. Resident records are kept for seven years after people leave subsidized housing.