Maintenance fees may have increased at the Annual General Meeting and the fee increase is retroactive to the beginning of your fiscal year. If you have signed up for preauthorized payments then these amounts will be withdrawn automatically from your account once approved by the owners at an Annual General Meeting.
When a strata lot is sold we are notified by the legal firm completing the transaction and the PAP is automatically cancelled.
Owners who want to cancel their PAP for other reasons must give us written instruction by mail, fax, and email or in person before the 20th of the month prior to the intended cancellation date.
To have your account information changed you must supply us with a new void check by mail, in person, by email or fax by the 20th of the month prior to the intended date change.
Example: If you need a change to be implemented for the 1st of December, we must receive the submission before or at the latest on the 20th of November.
Maintenance fees may be paid:
An annual budget for the maintenance of common expenses is approved by the strata council before the end of a fiscal year. The proposed budget is then presented to the owners at the Annual General Meeting for the approval by a majority vote of the owners in attendance The budget will include all of the anticipated expenses necessary to cover the annual common (shared) expenditures for the fiscal year. An example of such expenses are:
Each unit is then assessed their portion of the total budget based on their unit entitlement as per the calculation below:
Unit entitlement is determined by the developer prior to your Strata Plan being registered at Land Titles Office. It is a representation of each homes total square metres in relationship to the total square metres of all lots.
This information is available in the Notice of the Annual General Meeting. You may also contact your strata manager who can provide you with this information.
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