2018 Utility Allowances for Prince Edward Island
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2018 utility allowances for Prince Edward Island.
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2018 utility allowances for Prince Edward Island.
We’ve learnt from your feedback that many co-ops are not sharing their Plain-Language Financials with their members. Because the Agency introduced this service to help members get a better grasp of their co-op’s statements, we asked why. The answers varied. Some boards just haven’t thought of it
S95 co-ops are well aware that their Subsidy Surplus Reserve is not allowed to grow beyond $500 per unit plus interest. Anything more than that must be paid back to Canada Mortgage and Housing Corporation (CMHC). Our clients are busy and some find the refund process something of a nuisance. This is
The money in a co-op’s Subsidy Surplus Reserve is not allowed to grow beyond $500 per unit plus interest. Anything more is paid back to CMHC every year. This process has not always gone smoothly for some of the Agency’s clients. We knew there was a better way, so we proposed a change, which CMHC has
The Co-operative Housing Federation of Canada (CHF Canada)’s new bulletin helps federal co-ops determine future eligibility and access to GST/HST Rebates after operating agreements end.
The Agency has discovered that some housing co-operatives victimized by fraud are unable to collect on their insurance because they miss the deadline for reporting their loss. Others don't try to make a claim out of the mistaken belief that a claim won't succeed without a criminal conviction.
Our
As you come to the end of your mortgage, or earlier, your housing co-operative may need to borrow new money. The property may need more work than the capital replacement reserve can fund. Or you may have been looking forward to updating the older elements of your buildings and units. Some co-ops
61% of Agency clients hold a capital reserve balance of at least $6,000 per unit. By almost doubling the amount from 2007, co-ops are nearly twice as ready to meet their future needs.