payment of strata fees and special levies

Section 1.2.1

An owner must pay strata fees on or before the first day of the month to which the strata fees relate.

Section 1.2.2

Where an owner fails to pay strata fees on the date they are due, outstanding strata fees will be subject to an interest charge of 10% per annum, compounded annually. In addition to interest, failure to pay strata fees on the due date will result in a fine of $25.00 for each contravention of bylaw 2.1. (Amended at the Annual General Meeting held on September 19, 2020)

Section 1.2.3

An owner must provide the strata corporation or its management company with written authorization for monthly automatic debit from the owner’s bank account or twelve (12) consecutive, monthly post-dated cheques for strata fees for the fiscal year of the strata corporation, dated as of the first day of each month. (Amended at the Annual General Meeting held on September 19, 2020)

Section 1.2.4

The strata corporation may levy a fine for each contravention of bylaw 2.3. (Amended at the Annual General Meeting held on September 19, 2020)

Section 1.2.5

A special levy is due and payable on the date or dates noted in the resolution authorizing the special levy.

Section 1.2.6

Failure to pay a special levy on the due date will result in a fine for each contravention of bylaw 2.5.

Section 1.2.7

Where an owner fails to pay a special levy in accordance with bylaw 2.5, outstanding special levies will be subject to an interest charge of 10% per annum, compounded