CONDO OWNERS ASSOCIATION makes an IMPACT  

Disclaimer: COA is not affiliated & does not endorse any political party

Benefits of COA Ontario Chapters throughout the Province

COA fights the HST  

On July 1st, 2010 all condo owners experienced an additional  7% (approx) maintenance fee increase to cover the HST plus the additional annual inflationary increase customary with condominium Operating Budgets.  The majority of a Condo Corporation budgets is subject to 5% GST to cover service contracts, ie. property management, security, cleaning etc.  With the implementation of the HST; these service contracts are now subject to 13% tax.  The Corporation Reserve funds have also experienced a shortfall so they need to be topped up with the additional amount.  Condo owners now have to dig deeper into their pockets to protect their home investment.  Many of the new construction condos are not prepared for this additional expense either because this expense was not budgeted on the original price per sq ft on maintenance fee.  Also, buildings which have recently registered or those only up to 3 years old could potentially be experience up to 20% maintenance fee increases and more.  Each situation is different; so each corporation could be feeling the pinch at budget time.

COA President and Chair, Linda Pinizzotto spoke on behalf of Condo Owners across Ontario at the Queen's Park Stop the HST Rally and Press Conference.  The intent was to create condo owners "awareness" of the impact of the "HST".    Coverage of this rally and press conference extended across the province with prime time 6:00 p.m. Global News, CCN, CP 24, City TV and local newspaper interview.

The position that COA takes is to seek a full exemption of HST on all utilities.  This would apply to all home owners across the Province.  Although all homes owners are affected; condo owners are getting hit much harder than the standard single family dwelling home owner.   COA concentrates and represent Condo Owners throughout the Province and recognizes that approx. 30% of a condo corporation budget relates to utilities.  COA Director Bob Coffey is leading the approach and review of the enormous cost of utillities across the Province and the extensive additional related costs as a result of the HST charge.

BULLETIN: How will the new HST TAX GRAB affect Ontarians? Read More!

PRESS RELEASE: BC Fights HST Read More!  

TORONTO COMMUNITY HOUSING PROJECT - TCHC - CITY PARK

COA attended Adam Vaughan's Meeting at Metro Hall wiith respect to the pending construction of the 43 storey TCHC - Toronto Community Housing project slated for the City Park lands located west of Spadina.  Many residents are concerned on how this building will affect the neighbourhood of condos.  The original plan for the TCHC building was to be 9 storey and thousands of condo owners purchased their properties and some paying premium for views considering the 9 storey height.

The strong objection to this development and the pending schools in the same proximity because of the limited amount of children residing in this downtown core. There is only an estimated 6-8 children per building and they are generally below school age of 5 years and under.  The standard demographics of the downtown core are young professionals upwards.  It is customary for those with children to move to the suburbs once their children reach 5 years of age.

ADDITIONAL FEES FOR MULTI-DWELLING BUILDINGS

Multi-dwelling buildings ie. residences with nine or more units that are serviced by containerized garbage collection which includes Condominium apartment buildings and some types of townhouses were impacted with Solid Waste Management Fees in 2009.  They now have to pay annual garbage collection surcharges.  Maintenance fees were increased to cover the cost since this expenditure is now included in the operating budget.

Toronto City council implemented the Municipal Land Transfer Tax and applied to purchases on all Real Estate purchases in the City of Toronto in addition to the Provincial Land Transfer Tax in Feb 2008.

The Ontario Government's goal is to set-up smart meters for all homes and small businesses in Ontario by 2010.  At this time, smart meters are not mandatory however a few years ago many condominium corporations decided to move forward with retrofitting and installations of smart meters believing

Smart meters - Records how much electricity is used and what time of day electricity is used.  If you have a smart meter, electricity that you use during peak (busy) times will cost more than electricity that you use during off-peak times. This is also called time-of-use (TOU) pricing. Smart meters can help you help you control your electricity use and lower your electricity bill.  The cost to have smart meters installed will ultimately save money for Corporations over time however the initial cost could create some financial burden to some condominiums although the long term saving is beneficial.