Country Lane Estates in Aurora, Ont. is a community of about 200 townhome condominium units. Recently, the board of directors sent a notice to owners that $3.5 million is needed for renovations and individual unit owners will have to pay their share.
“I just want answers and they won’t give us answers to anything,” said Lori West-Ritza, a unit owner who has lived in the development for the past three years.
West-Ritza told CTV News Toronto that she is concerned about the repairs because her balcony was removed from her unit 10 months ago and a fence was put up around her property.
She pays $740 a month in maintenance fees and has been told she has to pay a special assessment of $19,687 for the next month.
“That’s a lot of money to hand over and we’re told no work will be done for a year. We are also not told what work is being done with this money,” West-Ritza said.
The townhome complex also has an in-ground pool, but despite the hot and humid summer, it’s not open and residents said it wasn’t open at all this year.
Other residents of the complex also contacted CTV News with concerns about the special assessment, but did not wish to be identified for the story.
In the letter to homeowners, it says the board of directors approved a $3.5 million special appraisal that will allow for the completion of approved projects, including balcony, window, garage, and door replacements, as well as continued roof and roof repairs. repairs to reopen the pool.
CTV News called and emailed the development’s property manager multiple times and got no response.
The Condominium Authority of Ontario (CAO) is a group that tries to help condominium owners, buyers, managers, and directors deal with problems facing developments, such as special assessments and underfunded reserve funds. .
“These are troubling situations and we certainly sympathize with owners facing special assessment,” said CAO CEO Robin Dafoe.
Dafoe added, “We hear all the time from boards trying to manage and balance the interests of homeowners’ budgets and preserve condo value.”
The Condo Owners Association (COA) is a group that also tries to advise condo owners on financial matters and said they are hearing more complaints about special assessments and rising maintenance fees that they are not completing. reserve funds.
Linda Pinizzotto, founder and president of the COA, said anyone asked to pay a special assessment should be able to get clear answers about exactly what the money is being used for.
“If the board is not calling a special meeting to discuss these types of expenses, especially large expenses, you probably already have a problem,” Pinizzotto.
West-Ritza said she was given until Sept. 5 to pay for the nearly $20,000 special appraisal.
“I mean, they threatened to put a lien on our property if it’s not paid,” West-Ritza said.
The CAO added that inflation is also making everything more expensive, including the cost of maintaining and repairing condominium buildings.