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
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
When the Co-op Corporations Act in Ontario was updated in 2023, a number of changes were made. Your co-op's by-laws need to reflect these changes. So, there’s work ahead for the board of directors, staff and members to align your own by-laws with the recently revised Act – if you haven’t already
By this time, all Agency clients know that we encourage you to invest in—or update—a building condition assessment (BCA). If you are refinancing, your co-op will also need environmental testing and an appraisal from a firm acceptable to the lender you are approaching. What you may not know is that
As you come to the end of your mortgage, or earlier, your housing co-operative may need to borrow new money. The property may need more work than the capital replacement reserve can fund. Or you may have been looking forward to updating the older elements of your buildings and units. Some co-ops
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.