Greetings,
On behalf of Dorset Realty Group we welcome you to the community of Quintet Tower C, A GRAND ESTATE in the heart of Richmond. We look forward to working with the owners and the strata council in the startup and for the ongoing success of the strata corporation
Here is a quick summary of the startup of the strata corporation and what you need to know
1. GOVERNANCE OF THE STRATA CORPORATION:
As per the Strata Property Act, the first Annual General Meeting will be held once 50% + 1 strata lots have been conveyed to the new owners. At the meeting a strata council will be elected among the owners. We shall assist the Owners and the Strata Council in maintaining a quality and desirable residence, and to ensure that the concerns and expectations of each of the strata owners are given proper consideration and inclusion in the future operation of this property. 2. OPERATING BUDGETS: The interim budget has been included with this welcome package. The interim budget was made up in the planning stage of the project 5 years ago based on the . A new budget that reflects the current financial situation and needs will be presented to the owners for approval in the first annual general meeting. Please note that your strata fee also include the water and sewer consumption to be metered and charged by the City of Richmond. 3. …show more content…
PAYMENT OF MONTHLY STRATA FEES:
As required under the Strata Property Act (SPA) of British Columbia, an owner is responsible for the payment of the monthly strata fees from the ‘possession and adjustment date’ as provided on their contract of purchase. Strata fees are payable on the first day of each month.
We strongly suggest that owners sign-up for direct payments through their bank account. The form to set-up this process is available in this package .You may also send to our office post-dated cheque for at least 12 months payable to : Dorset Realty Group ITF 831 and mail or drop off to Dorset Realty Groups office. Pre-authorized payment can be set up any time thereafter.
4. INSURANCE COVERAGE
The building (with the exception of your personal possessions) is insured through CMW, a leader in strata corporation insurance in the Lower Mainland. A summary of the insurance policy will be included with your notice of Annual General Meeting. The strata insurance covers liability, fire and flood emergencies, structural damage and full replacement cost of the building. We strongly recommend you purchase contents and liability coverage to protect your personal possessions and to protect against legal actions and insurance deductible charge backs resulting from accidents occurring within your suite. If you have upgraded your suite in any way (added wallpaper, upgraded flooring, etc.) you also need to purchase coverage for the upgrades. We suggest you speak with your insurance agent regarding your needs as a new condominium owner. 5. SHARED AMENITY FACILITIES AND EXPENSES Owners in Quintet Stage 2 (Tower C, D and E) share the amenity facilities with owners of Quintet Stage 1 (Tower A & B) by means of a set of reciprocal legal agreements. Owners of stage 1 and 2 can use and enjoy the courtyards of both stages connected by a sky bridge. Stage 2 owners can access and enjoy the swimming pool, hot tub, sauna and the gymnasium in Quintet Tower B. By the same agreement stage 2 owners also shares the
On behalf of Dorset Realty Group we welcome you to the community of Quintet Tower C, A GRAND ESTATE in the heart of Richmond. We look forward to working with the owners and the strata council in the startup and for the ongoing success of the strata corporation
Here is a quick summary of the startup of the strata corporation and what you need to know
1. GOVERNANCE OF THE STRATA CORPORATION:
As per the Strata Property Act, the first Annual General Meeting will be held once 50% + 1 strata lots have been conveyed to the new owners. At the meeting a strata council will be elected among the owners. We shall assist the Owners and the Strata Council in maintaining a quality and desirable residence, and to ensure that the concerns and expectations of each of the strata owners are given proper consideration and inclusion in the future operation of this property. 2. OPERATING BUDGETS: The interim budget has been included with this welcome package. The interim budget was made up in the planning stage of the project 5 years ago based on the . A new budget that reflects the current financial situation and needs will be presented to the owners for approval in the first annual general meeting. Please note that your strata fee also include the water and sewer consumption to be metered and charged by the City of Richmond. 3. …show more content…
PAYMENT OF MONTHLY STRATA FEES:
As required under the Strata Property Act (SPA) of British Columbia, an owner is responsible for the payment of the monthly strata fees from the ‘possession and adjustment date’ as provided on their contract of purchase. Strata fees are payable on the first day of each month.
We strongly suggest that owners sign-up for direct payments through their bank account. The form to set-up this process is available in this package .You may also send to our office post-dated cheque for at least 12 months payable to : Dorset Realty Group ITF 831 and mail or drop off to Dorset Realty Groups office. Pre-authorized payment can be set up any time thereafter.
4. INSURANCE COVERAGE
The building (with the exception of your personal possessions) is insured through CMW, a leader in strata corporation insurance in the Lower Mainland. A summary of the insurance policy will be included with your notice of Annual General Meeting. The strata insurance covers liability, fire and flood emergencies, structural damage and full replacement cost of the building. We strongly recommend you purchase contents and liability coverage to protect your personal possessions and to protect against legal actions and insurance deductible charge backs resulting from accidents occurring within your suite. If you have upgraded your suite in any way (added wallpaper, upgraded flooring, etc.) you also need to purchase coverage for the upgrades. We suggest you speak with your insurance agent regarding your needs as a new condominium owner. 5. SHARED AMENITY FACILITIES AND EXPENSES Owners in Quintet Stage 2 (Tower C, D and E) share the amenity facilities with owners of Quintet Stage 1 (Tower A & B) by means of a set of reciprocal legal agreements. Owners of stage 1 and 2 can use and enjoy the courtyards of both stages connected by a sky bridge. Stage 2 owners can access and enjoy the swimming pool, hot tub, sauna and the gymnasium in Quintet Tower B. By the same agreement stage 2 owners also shares the