Maintenance Fees
Maintenance Fees are determined at the Annual General Meeting (AGM) with the owners of the Strata Corporation adopting a budget through a majority vote.
Strata maintenance fees are used to finance the operation of the strata corporation to help protect the overall investment and enjoyment of the living space. Your specific monthly fee is based on your percentage of ownership or unit entitlement.
Maintenance Fees cover such items as Insurance, Utilities, Garbage Collection, Landscaping, Baywest Management Fees, and General Repair and Maintenance and contingency reserve funds for major expenditures like roof replacement.
Maintenance Fees are due on the first of each month and are handled by Baywest as a service to the Strata Corporation.
How to Pay:
- Pre-Authorized Automatic Withdrawal (PAC)
- PAC is the most secure and convenient form of payment as it ensures your fees arrive automatically on time each month avoiding late fees or unexpected delays such as vacation or illness.
- To use this method please complete the PAC form and forward to the Baywest office along with a void cheque.
- Post-Dated Cheques
- As cheques can be lost in the mail or misplaced and are costly to process, we do not recommend submitting post dated cheques. However, if you need pay by this method please forward all post-dated cheques to the Baywest office. Make cheques payable to your Strata Corporation and dated on the first of each month. Clearly indicate which unit or strata lot you are making payment on.
Late Fees & Penalties
- Your Strata Corporation may assess a penalty of at least $25 and/or charge interest to a maximum of 10% for anyone not paying their fees on time.
- Cheques or PAC payments that have been returned by the owner’s financial institution for any reason may also be subject to an additional $25 handling charge. If fees are outstanding for three months, a lien may be registered against the offending owner’s strata lot with the lien registration (approximately $400) being charged to that strata lot.
Please Note:
Property Taxes are not included in your monthly maintenance fees. The city typically sends owners a property tax invoice each year. In some cities, owners also receive a water/sewage invoice. Each owner is responsible to pay these invoices directly to the city.
