Partners in Your Success

Blueprint for Success

 

Action Plan: Planning to Act! - Updated from 18 October 2021

“Failing to plan means planning to fail.” We’ve all heard someone say that. Planning is hard, important work, but it’s just got easier owing to some help from the Agency.

Timing

CMHC’s Rental Assistance Program (FCHI-2) requires co-ops to complete an Action Plan covering their next three years. CMHC has agreed to extend the filing deadline for the first cohort of co-ops to sign a Rental...

Infectious Arrears

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.

Good Vacancy Loss

Some vacancy loss is by choice, because units are being refreshed for new members. So not a loss but an investment.

Co-ops without Paid Managers

Since 2007, the percentage of co-ops without paid help is down by more than half to a mere 2% of Agency clients. Another 12% just have a lonely bookkeeper.

Vacancy Loss

The number of Agency clients reporting vacancy losses of more than $250 per unit per year has fallen 50% since 2007. While vacancy rates are local, these numbers show good management.

Risk Trend

92% of Agency clients have a Strengthening or Stable risk trend. Proof of many good decisions.

Plans in Action

The average co-op with an approved capital replacement plan tucks away more than $3,600 per unit in reserves each year--triple the 2007 amount. Does their future hold better windows? New kitchens? Savings mean more choices.

No Vacancy Loss

28% of Agency clients lost no money to vacancies last year. Good, if this means members chose to stay in their units. Bad, if new members moved into units that hadn’t been refreshed.

Infectious Arrears
Good Vacancy Loss
Co-ops without Paid Managers
Vacancy Loss
Risk Trend
Plans in Action
No Vacancy Loss