In 2018 CMHC made an offer to a particular group of clients, which the Agency encouraged them to accept. For a limited time, S61 co-ops locked into a high interest rate could prepay their mortgages without the usual penalty. (Unfortunately, the opportunity is no longer available.) Chadwick Towers, a
Big, expensive decisions lie ahead for housing co-ops with a single elevator that is starting to show its age. After 20 to 25 years of service, elevators will reach the end of their effective lives. Toward the end of this period, the elevator may experience decreasing performance, along with many
To take care of aging buildings, co-ops need to plan for repairs and replacements. A good place to start is with a Building Condition Assessment (BCA). The Agency’s Technical Services team has developed a plain language guide to help co-ops get started and understand the how to get started, how to
The Agency’s Technical Services group has developed a Project Management Guide that will help your co-op understand the role of project management for major capital upgrades and replacements. This guide outlines what project management is, how to hire a project manager, what the project manager does
Some vacancy loss is by choice, because units are being refreshed for new members. So not a loss but an investment.