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 general meeting of co-owners held on [Date of Meeting], and in accordance with the budget adopted by the board of directors, we inform you of the amount of your annual contribution to the common expenses for the year [Year]. This notice provides a detailed breakdown of the amounts related to each unit you own and includes essential information regarding your contribution.

Co-owner Information:

• Name: [Full Name of Co-Owner]
• Mailing Address: [Full Address of Co-Owner]

Unit information

For each unit you own, the following details are provided:

Main unit (e.g., apartment)

• Cadastral designation: [Cadastral number of the main unit]
• Relative value of the fraction: [For example: Relative value in percentage]
• Annual amount of general common expenses: [Amount in $]
  Includes the maintenance of common areas, the day-to-day administration of the syndicate, as well as contributions to the contingency fund and self-insurance fund.
• Annual amount of special common expenses (if applicable): [Amount in $]
  Covers repairs and maintenance of common areas, specifically costs for minor repairs and maintenance of restricted common areas exclusively used by you.
• Annual amount of special common expenses related to the contingency fund (if applicable): [Amount in $]
  Applies to major repairs or replacement of restricted common areas exclusively used by you, in accordance with the provisions of the declaration of co-ownership.

Accessory unit (e.g., parking space)

• Cadastral designation: [Cadastral number of the parking space]
• Relative value of the fraction: [Relative value in percentage]
• Annual amount of general common expenses: [Amount in $]
• Annual amount of special common expenses (if applicable): [Amount in $]
• Annual amount of expenses for the special contingency fund (if applicable): [Amount in $]

Summary of expenses

• Total annual common expenses for all units: [Total Amount in $]
• Monthly contribution amount for all units: [Monthly Amount in $]

Payment methods:
In accordance with the building’s bylaws, your contribution may be paid in monthly installments, using the following methods:

• Post-dated cheques
• Pre-authorized bank transfers

Loss of term benefit clause

We emphasize that the timely payment of common expenses is essential to ensure proper building maintenance and the smooth operation of the co-ownership. In the event of late or missed payments, the syndicate may enforce the loss of term benefit clause outlined in the declaration of co-ownership. This would result in the immediate demand for the full remaining balance for the current year.

In such cases, the co-owner in question would be required to promptly settle the outstanding balance to minimize any impact on the building’s management. Late fees and interest may also apply, in accordance with the provisions of the declaration of co-ownership.

Penalty clause

If recovery of unpaid amounts becomes necessary, the syndicate may undertake legal proceedings to protect the interests of the co-ownership. This includes legal and administrative costs associated with such actions. If applicable, the penalty clause outlined in the declaration of co-ownership may be invoked, including the recovery of extrajudicial legal fees for the lawyer mandated to collect the unpaid amounts.

We thank you for your cooperation on this matter, which is essential to maintaining the quality of life and upkeep of the building for the benefit of all co-owners. Should you have any questions, please do not hesitate to contact the board of directors or the syndicate’s property manager.

Sincerely,

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