Sentences with phrase «of any strata fees»

The new rules for debt servicing apply to those with good credit scores and allow for a max of 39 % (gross debt servicing — GDS) of gross monthly income to cover the mortgage payments, property taxes and 50 % of the strata fee.

17.9 If a strata corporation created under the Condominium Act has no bylaw that establishes a schedule for the payment of strata fees, the strata corporation is deemed, on the coming into force of this section, to have the bylaw set out in section 1 of the Standard Bylaws to the Act.

6.8 (1) For the purposes of section 107 (1) of the Act, the maximum rate of interest that a strata corporation may set out in its bylaws for the late payment of strata fees is 10 % per annum compounded annually.

(2) On receipt of any strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Property Act, the exempt individual must promptly deliver the money to the strata corporation.

(j) the average monthly total of strata fees, excluding special levies, collected on behalf of strata corporations, including sections.

Not exact matches

GDSR is the percentage of your gross income required to pay basic housing costs including your mortgage payments, property taxes, heating and condo or strata fees (if you have any).

His projected monthly expenses will increase as he will no longer have the option to rent parts of his home or he will be paying monthly condo / strata fees on a condo.

GDS which accounts for a maximum 39 % of annual income allocated towards Principal and Interest Payment, Property Taxes, Strata Fees and Heating Costs.

These costs include the legal fees charged by your lawyer, your share of the strata and property taxes for the year paid back to the seller.

Currently, the industry standard allows for a maximum of 35 to 39 % (depending upon credit scores) of the annual borrowers income to be allocated towards annual mortgage payment, heat, property tax, and strata fees.

Let's say property taxes are $ 2,000 per year, strata fees are $ 2,400 per year, and heating costs are $ 900 per year, he would be left with $ 14,200 for maximum annual mortgage payments — making it a maximum of $ 1,183 per month.

Depending on income and current liabilities, with applications of less than 20 % down, our lenders will use a conservative qualifying ratio of 35/42 %, whereby up to 35 % of your income is to be used towards the mortgage payment, heating costs, property taxes and / or strata fee payments.

Note: When qualifying for a mortgage on a second home the lender will use all sources of your income and all consumer debts (loans, credit card payments) and monthly obligations for housing such as property taxes, mortgage payments on any properties and strata fees (if applicable).

A fee paid by property owners for the management of the common property of buildings established under a strata title.

I expect strata fees to increase at a rate of about 2 % per year for the foreseeable future.

Low strata fees of $ 69 / month and strong VRBO potential make our four - season, single - family cabins a great investment.

OHLS's tuition fees are now in the upper strata of Canadian law school tuition fees, and so are its conference fees among CPD (Continuing Professional Development) conference providers.

6.9 (1) For the purposes of section 110 of the Act, a strata corporation may impose user fees for the use of common property or common assets only if all of the following requirements are met:

(3) The fee to be paid to the superintendent for examining a schedule of unit entitlement, schedule of voting rights or schedule of interest on destruction for a phase in a phased strata plan referred to in subsection (2) is $ 200 per schedule.

6.10 The maximum fee that the strata corporation may charge for a Certificate of Payment referred to in section 115 of the Act is $ 15.

14.8 The fee to be paid to the superintendent for examining a schedule to a strata plan under section 246, 248 or 264 of the Act is $ 200 per schedule.

4.4 The maximum fee that the strata corporation may charge for an Information Certificate, including required attachments, referred to in section 59 of the Act is $ 35 plus the cost of photocopying, or other means of reproduction, up to 25 cents per page.

4.2 (1) The maximum fee that the strata corporation may charge for a copy of a record or document provided under section 36 of the Act is 25 cents per page.

It will also handle strata corporation and tenancy issues relating to non-payment of monthly strata fees or fines; unfair actions by the strata corporation or by people owning more than half of the strata lots in a complex; uneven, arbitrary or non-enforcement of strata bylaws; issues of financial responsibility for repairs and the choice of bids for services; irregularities in the conduct of meetings, voting, minutes or other matters; interpretation of the legislation, regulations or bylaws; and issues regarding the common property.

In all cases where a brokerage or licensee receives fees or payment for forms, such as the Form B or Form F, or payment for photocopies from someone other than the strata corporation, the obligation to make disclosure of remuneration is triggered.

An individual who is employed as a caretaker or manager by the strata corporation, or by a brokerage that provides strata management services is exempt from the requirements to be licensed in respect of collecting strata fees, special levies or other amounts levied by the strata corporation, as long as the exempt caretaker or manager promptly delivers the money to the strata corporation or brokerage.

An individual employed as a caretaker or manager by more than one strata corporation «is exempt from the requirement to be licensed under Part 2 of the Act in respect of collecting strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Property Act&rstrata corporation «is exempt from the requirement to be licensed under Part 2 of the Act in respect of collecting strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Property Act&rstrata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Property Act&rstrata corporation under the Strata Property Act&rStrata Property Act».

2.18 (1) Subject to subsection (2), an individual who is employed as a caretaker or manager by a strata corporation, or by a brokerage that provides strata management services to or on behalf of a strata corporation, is exempt from the requirement to be licensed under Part 2 of the Act in respect of collecting strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Propertstrata corporation, or by a brokerage that provides strata management services to or on behalf of a strata corporation, is exempt from the requirement to be licensed under Part 2 of the Act in respect of collecting strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Propertstrata management services to or on behalf of a strata corporation, is exempt from the requirement to be licensed under Part 2 of the Act in respect of collecting strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Propertstrata corporation, is exempt from the requirement to be licensed under Part 2 of the Act in respect of collecting strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Propertstrata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Propertstrata corporation under the Strata PropertStrata Property Act.

Complete the following calculation to determine the approximate amount you may be able to afford for the mortgage payment, the property taxes and, where applicable, 50 % of the strata maintenance fees.

A special levy is approved in the amount of $ 57,000 because of an operating cash flow deficiency due to a bankrupt developer and the bank not paying the strata fees owed to the strata corporation for the strata lots owned by the developer.

Brokerages that collect money on behalf of strata corporations or sections often collect a single payment from each strata lot owner that includes the monthly strata fee and a portion intended to be added to the contingency reserve fund.

If the service agreement specifies a fee for the provision of photocopying services, the brokerage is entitled to charge the strata corporation for the provision of these records.

In addition to maintaining separate trust accounts, when strata fees that include contingency reserve funds or special levy payments of a section are received by the brokerage, the brokerage must transfer the portion of the fee that relates to the contingency reserve fund or special levy to the contingency reserve fund trust account or special levy trust account of the section, as the case may be, within the time period set out in section 7 - 9 (4) of the Rules.

If you're buying one of the Whistler condos for sale part of the maintenance costs will be included in your strata fees.