Partners in Your Success

Blueprint for Success

 

Welcoming New Co-ops to the Rental Assistance Program

This month, the Agency is excited to welcome a new batch of co-op clients to the Rental Assistance Program (FCHI-2).

After the federal government’s announcement of $118.2 million in new funding earlier this year, co-ops with operating agreements that expired before April 2016 were able to sign on to receive rental assistance.

Over the coming weeks, these new co-ops will meet their Rental...

Infectious Arrears

In co-ops where board members are behind on their housing charges, the amount all members owe is almost four times higher than in co-ops where board members pay on time. This number speaks for itself.

Good Vacancy Loss

Some vacancy loss is by choice, because units are being refreshed for new members. So not a loss but an investment.

Co-ops without Paid Managers

Since 2007, the percentage of co-ops without paid help is down by more than half to a mere 2% of Agency clients. Another 12% just have a lonely bookkeeper.

Vacancy Loss

The number of Agency clients reporting vacancy losses of more than $250 per unit per year has fallen 50% since 2007. While vacancy rates are local, these numbers show good management.

Risk Trend

92% of Agency clients have a Strengthening or Stable risk trend. Proof of many good decisions.

Plans in Action

The average co-op with an approved capital replacement plan tucks away more than $3,600 per unit in reserves each year--triple the 2007 amount. Does their future hold better windows? New kitchens? Savings mean more choices.

No Vacancy Loss

28% of Agency clients lost no money to vacancies last year. Good, if this means members chose to stay in their units. Bad, if new members moved into units that hadn’t been refreshed.

Infectious Arrears
Good Vacancy Loss
Co-ops without Paid Managers
Vacancy Loss
Risk Trend
Plans in Action
No Vacancy Loss