Your home. Our shared responsibility.
As a condominium owner, you own your unit and an interest in the common elements that make up the community, including land, building structures, parking areas, roads, and landscaped spaces. Your unit is your primary responsibility; through maintenance fees, you also share responsibility for the common elements with your neighbours.
Each owner has an undivided interest in the common elements and contributes to common expenses in the proportion allocated to their unit by the declaration. The declaration defines the boundaries of each unit and the common elements.
YCC8 is a non-profit condominium corporation. Timely collection of maintenance fees supports its day-to-day operations. Late payments can result in administrative charges and lien proceedings, subject to applicable law.
Monthly maintenance payments
- Fees are due on the first day of each month.
- Pre-authorized bank payments are preferred.
- The published late-payment charge is $25.
- The published charge for a returned payment (NSF) is $40.
Contact the property manager to register for pre-authorized payment and request the payment authorization form.
Request a payment form →Operating & reserve funds
Maintenance and special-assessment fees are used for the corporation’s purposes as set out in its budget. The corporation maintains a general operating account and a separate reserve fund.
Reserve contributions are guided by the reserve fund study and the board’s funding plan. The reserve fund accumulates money over time for major repairs and replacement of common elements and assets.