Guiding the end of your operating agreement

18 June 2020

The Agency has developed a new information source that can guide your co-op as you navigate to the end of your CMHC agreement. The web page we’ve called Your Expiring Operating Agreement will help you chart the best course as your co-op embarks on its new chapter. Serving as an information hub, the site connects you with various resources, including the Agency’s Q&As about the end of operating agreements for the ILM program, S95 program and S27/61 programs.

Protecting your co-op’s chief asset should be an essential part of your planning for the future. Our new web page has a section on Taking Care of your Property, including the technical reports on the condition of your building that will guide you in steering your co-op in the right direction as well as current funding programs available to fund your projects.

Our section on Becoming More Energy Efficient has advice for your co-op on greening itself through the choices you make about building repairs. Don’t forget to check out the Financing section which shows how to take advantage of all the financial streams on offer.

The section on Your Housing Charge Assistance presents information on the early stages of the new Rental Assistance Program (FCHI-2), which will assist Agency clients’ low-income members with their housing costs after older programs come to an end. As the administrator of the Rental Assistance Program, the Agency encourages you to check this section often for updates as more information becomes available to us.   

We’re here to help you! Your relationship manager can guide your co-op as you transition from operating agreement to FCHI-2. Agency staff will be happy to give a presentation to your board or membership (via video link, for now) on what to expect when your agreement ends.

For the few co-ops that have no CMHC agreement of any kind, our Annual Health Check service gives former clients all the business intelligence they need to remain on a solid financial footing. For a modest fee, your co-op can continue to receive vital Agency reports on your co-op’s performance. After all, if you don’t know where you are, how can you decide where to go?

For the latest news, follow the Agency on our social-media channels for regular updates. There you’ll find alerts that will send you back to Your Expiring Operating Agreement for the details you’ll need to know.

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Management Trend

More co-ops are moving to management companies. Just 28% of Agency clients have their own managers, while management companies serve 56%.