Category Archives: Financial

Condo Fee Increase Reminder

HAPPY NEW YEAR! Just a reminder from our Treasurer (and as stated both on this site and in your latest financial update package that was delivered in the fall) that the condo fees as of January 2017 have been raised to $275/month. If you send in a written cheque for the old amount it will be returned with a reminder to pay the new amount.

Condo Fee Increase – As of January 2017

Last night the Board voted unanimously to increase condo fee contributions for the 1st time in almost 10 years. Please note that as of January 2017, condo fee contributions will increase to $275/month. This increase will be split between addressing inflationary pressures within the operating expenses as well as adding to the Corporation Reserve Fund amounts so that major projects can be completed over the next 2 to 4 years, as per the new Reserve Fund Study.

It should be noted that the primary culprit as to the amount of the increase is the unexpected need to replace the entire roofing system in the complex, which was supposed to last for another 6-12 years but has now been identified as something to be completed ASAP.

 

Voting Rights at AGM

As you are now aware of, the HPOH AGM will be taking place on Wednesday March 16 at 7PM. It is important for all unit owners to note that all owners are invited to the meeting. It should also be noted that only unit owners who are up to date with their condo fees are permitted to vote at the AGM. If you currently are in arrears but would like to vote at the AGM on things such s the new Board, it is important to make sure that you get your arrears paid in full before the AGM commences. It should be noted that you will not be able to vote at the AGM if you bring the arrears amount to the meeting itself.

Questions? Make sure to email the Board today!

Changes – Cheque Writing to the Board

Banks across Canada have recently cracked down on Corporations such as ours in the way the receive deposited cheques. There has been a clear message to the Board that cheques will ONLY be accepted if our legal corporate name is on the cheque. The bank has made it clear that they will no longer accept a letter written to ‘Harrison Place’ whatsoever.

Please note that any future cheques MUST be written out to:

Condo Plan No: 762-0801

Any cheques not written out in this manner will be returned to the owner.  Finally, it should be re-stated that the Board has been very successful in getting owners onto the CAFT pre- authorized debit plan and that it would be our preference for all owners to sign up for condo fee payments in this manner.

 

 

Quarterly Financial Statements Coming Soon

Please note that you will be receiving your quarterly financial updates soon. Please make sure to take a look and see if there are any questions or concerns you may have about the statement as we move into 2015.