- Common expenses (condo fees) : Common expenses (condo fees)
Definition : Common expenses (condo fees)
Amounts of money required from the co-owners by the syndicate to meet the expenses arising from the co-ownership and the operation of the immovable, as well as the amounts to be paid into the contingency fund and the self-insurance fund. There are two categories of expenses to be distinguished: general common expenses and particular common expenses.
The failure to pay general or special common expenses (condo fees), as well as those relating to the contingency fund, is one of the most contentious co-ownership’s issues. It is the duty of the board of directors of the syndicate of co-owners to collect them, unless this task has been delegated to the condo manager.
When a co-owner's contributions have been in arrears for more than three months, the law provides, ex officio, that he automatically loses his right to vote at the general meetings of the co-owners. He is also exposed to legal recourses, so that the syndicate can recover the amounts owing. A review of the options in such cases.
Preparing a budget forecast is an unavoidable task in co ownership. Its preparation, preliminary examination and adoption will ensure the proper functioning of the syndicate of co-owners. It is up to the Board of Directors to define its terms, in view of the expenses that will have to be paid to allow a syndicate to meet its obligations. The budget also makes it possible to fix the amount of the contributions of each co-owner to the expenses of the co-ownership.
It will be prepared by the Board of Directors or property manager, based on the amounts spent in preceding financial periods, as well as anticipated non-recurring expenses. The preparation of the budget forecast requires time and rigor.
Administrative, maintenance, replacement, improvement or alteration expenses of the common portions are divided among the co-owners. General common expenses are to be distinguished from particular common expenses, which are allocated under different rules. In the first case, it is the relative value of each fraction that is used to establish the co-owners contribution. As for special common expenses arising from common portions for restricted use, the co-owners using them are alone responsible of the expenses resulting therefrom.
Les charges communes doivent être payées par le copropriétaire de l’unité d’habitation. S'il ne paie pas, il est considéré comme défaillant, ou « en défaut de paiement ». Des recours existent pour cela. Toutefois, d'autres situations, plus rares, peuvent se présenter et doivent être envisagées.
*This conference is only available in french*
20 mars - Proposé par le RGCQ, le Speed-Condo Signature est similaire au Speed-condo. Cette activité de formation permet d’approfondir des sujets précis à l’aide d’un panel d’experts. Sous forme de conférence, des thématiques plus complexes seront abordées. Une connaissance de base de la copropriété est nécessaire pour tirer profit de cette séance.
L'activité abordera le thème du recouvrement des frais de condos impayés. Que faire face à un copropriétaire qui refuse de payer? Que sont les recours possibles et les implications de chacun? Obtenez toutes les réponses à vos questions lors de cette activité de formation.
Before purchasing the apartment of your dreams, find out the status of the expenses (condo fees) of the apartment owing by the vendor, as you will have to pay the arrears once you become the owner of the apartment.
Common expenses or “condo fees”; you will have to pay them once you become an co-owner. They are an important element to consider before your purchase.
From the purchase of a condo, the purchaser becomes responsible for the unpaid common expenses of the vendor (Article 1069 C.C.Q.). The syndicate may, therefore, claim from you amounts that you would not have thought owing.
To avoid financial problems, it is important to verify, before your purchase, that the co-ownership has implemented sound management practices and controls of its expenses. To do so, you should ask questions to your vendor to find out if the syndicate keeps adequate financial records.
The declaration of co-ownership is intertwined with the purchase of an apartment held in divided co-ownership. A genuine "user's guide", this document defines the rules to be observed in the immovable, as well as its administrative and management guidelines. Before acquiring a condo, any careful buyer should, imperatively, read the declaration of co-ownership. He will thus be able to verify the extent of his obligations and duties and the limits to his ownership rights. He will be able to evaluate its terms and conditions and make a decision on buying or not.
Three months ago, we were called to the annual general meeting of co-owners during which co-owners were consulted on the budget forecast. However since the AGM, we have not received a notice from the Board detailing the amount of our contribution to our co-ownership’s operating budget.
Questions: Isn’t the syndicate required to send a notice of assessment for common expenses? If so, what should it provide?
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Cela fait six mois que je suis dans mon condo, et il y a encore plusieurs unités invendues dans l'immeuble. Je fais partie des administrateurs nouvellement élus sur le premier conseil d'administration de la copropriété, élu lors de l'assemblée extraordinaire pour l'élection du nouveau conseil. Qui doit payer les charges communes rattachées à ces unités invendues : est-ce nous ou le promoteur?
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