Partners in Your Success

Blueprint for Success

 

The End of ILM Operating Agreements

For housing co-operatives with an Index-Linked Mortgage (ILM), the expiry of operating agreements is a complicated affair – more so than for their S95 Program cousins. To understand what happens at the end of your operating agreement, begin by looking at the agreement version your co-op signed. There are two possible versions and you can find your version on the Agency’s password-protected client...

Clients and Units

On 1 January 2018, the Agency had 525 client co-ops with 30,820 units of housing.

Agency Clients

On 1 January 2018, the Agency had 11 clients in PEI, 261 in Ontario, 50 in Alberta and 203 in B.C. 

Vacancy Loss

At last count, Agency clients together lost $3.6 million to vacancies. Too much, but down 2% from a year earlier.

Vacancy Costs

The average co-op loses $132 a unit a year to empty units, down from $177 in 2007. Some of this loss is by choice, because units are being refreshed for new members.

Timely Clients

Only 52% of the Agency's co-op clients filed their 2006 AIR on time. Now, 79% file on time. 

Risk Trend

The risk trend of 88% of Agency clients is either Strengthening or Stable. Great work, co-operators!

Plans in Action

The average co-op with an approved capital plan is setting aside more than $2,800 per unit in reserves each year--more than double the 2007 amount of $1,186. We're so impressed that we're speechless!

Clients and Units
Agency Clients
Vacancy Loss
Vacancy Costs
Timely Clients
Risk Trend
Plans in Action