Assessment notice template for a Syndicate of co-owners

Syndicate of co-owners [Full Name] Address of the syndicate: [Full Address]

Assessment notice (Common Charges)

Date: [Date of Notice]

Dear [Co-Owner's Name],
Following the annual meeting of co-owners held on [Date of Meeting], and subsequent to the adoption of the proposed budget by the board of directors, we hereby inform you of your assessment for common charges for the year [Year]. This notice details the amounts of general and specific charges, as well as essential information regarding your contribution.

Co-owner Information:

• Name: [Full Name of Co-Owner]
• Mailing Address: [Full Address of Co-Owner]
• Cadastral Designation: [Lot Number of Private Portions]
• Identification of Limited Common Elements (if applicable): [Numbers of parking spaces, storage units, etc.]

Assessment Details:
1. Relative value of your fraction: [e.g., Relative value in percentage]
2. Annual amount of general common charges: [Amount in $] Includes maintenance of common areas, routine administration of the syndicate, and contributions to reserve and self-insurance funds.
3. Annual amount of specific common charges (if applicable): [Amount in $] Applies to maintenance, minor repairs, or replacement of limited common portions for which you have exclusive use, in
accordance with the declaration of co-ownership.
4. Annual amount of specific common charges related to the reserve fund (if applicable): [Amount in $] Applies to major repairs or replacement of limited common portions for which you have exclusive use, in accordance with the declaration of co-ownership.

Total annual charges: [Amount in $] Monthly assessment amount: [Monthly Amount in $]

The monthly amount corresponds to the division of the total annual charges into equal installments, payable each month.

Payment terms: In accordance with the By-laws of the immovable, your assessment can be paid in monthly installments using the following methods:

• Postdated checks
• Pre-authorized bank transfers

Forfeiture of the term: In the event of non-payment of any installment by the due date, the syndicate reserves the right to enforce an acceleration clause. This means that the entire remaining balance for the year will become immediately due. The delinquent co-owner must then promptly pay the full annual assessment.

Consequences of non-payment: In case of non-payment, late fees and interest may be applied, and the syndicate may initiate legal proceedings to recover the amounts due, including associated legal and administrative costs.

For any questions, please do not hesitate to contact the board of directors or the syndicate's manager.

Sincerely,

[Name of Manager or Board Representative] [Contact Information]