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
Under new federal rules introduced in August 2016, landlords have little recourse if a tenant is growing licenced medical marijuana in their unit. There’s a risk, though, that insurance policies will not cover damages from any activities deemed ‘high risk’, and, in most cases, the operation of a
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.