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All in This Together at Abiwin Co-operative
As the pandemic moved into high gear in Canada, businesses were closing and employees were sent home; a new normal was taking hold. It quickly became clear to the staff and members of the Abiwin Co-operative that they should support each other during this difficult time.
Abiwin is home to members
12 Tips to Keep Your Units Full
Fill Your Units
You can never get back the money you lose when a unit stands empty. Whenever a member gives notice, it’s important to get the word out, which is usually the responsibility of the manager. As soon as a prospect gets in touch, your co-op needs to follow up promptly. Otherwise, they will go elsewhere.
Get Paid
Your co-operative is in the housing business, not the lending business. It has bills to pay and a building to keep up. You should keep this in mind when members don’t pay on time.
If a household doesn’t pay what it owes and moves out, the co-operative is left with a bad debt, which will have to be
Protect Your Assets
Your co-op has three main assets, although only one appears on the audited financial statements.
Your money and buildings
Protect your co-op‘s property by buying the right insurance in the right amounts. All housing co-ops need five kinds of insurance: property, loss of housing charges, public
Your Environmental Sustainability Policy
Co-ops that care about climate change and want to shrink their environmental footprint should consider approving their own Environmental Sustainability Policy. A model is available from the Co‑operative Housing Federation of Canada. It was written so that you can easily remove any points that don’t
Update for Post-1991 ILM Co-ops in BC and Alberta
We are happy to share the news that CMHC has changed its position on surcharges for post-1991 ILM Co-ops in British Columbia and Alberta.
CMHC previously decided that co-ops in the program must continue to collect a surcharge if they have an operating agreement, even though their ILM mortgage has
Model Investment Policy
What is Business Continuity Planning?
Business continuity planning is the process of developing strategies aimed at reducing the impact of a disruption to normal business operations. The goal of business continuity planning is to ensure that, even during a disruption, a co-operative’s business operations can continue at a reduced but
Tip of the Month
Directors in Arrears
8% of Agency clients have board members in arrears. Good work, especially in a COVID year. In 2007, 28% reported director arrears.