Some Important Lease Information for Sandycove Acres Residents


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(NEW)  LEASE ASSIGNMENTS IN RESIDENTIAL TENANCIES ACT - released by the Home Owners - July 5th, 2019

Please read this write-up issued by the Home Owners Association describing in fair detail how the Lease Assignment works.    If you are selling your house this could make a major difference in how fast you can close the sale.     Just CLICK on the following    - Assignment of Leases - July 5, 2019.pdf

 

LEASE RENEWALS - released by the Home Owners - April 25th, 2018

The Association has reconfirmed the information previously circulated; that is that clauses in the "old" leases with respect to property tax, water billing and snow clearing will be honoured.   Following our previous update as to how leases that have already been renewed would be handled, we have learned that Parkbridge have now adopted the simpler method of amending the lease itself.   We have seen an actual completed instance of this and it does indeed restore the status quo with respect to these three items.   This, of course, is to be taken in conjunction with the recent announcement by Parkbridge that the installation of water meters will only happen for new residents.

We expect that future renewals will be based on a new "standard" lease.   This will - in the first draft that we have seen - have a specific clause laying out the various charges applicable to a given resident and will, in other clauses, have wording to be struck out and initialled by both parties.   Thus it would be useable for both renewals and new residents.   The Association expects to have an opportunity to review the final version of this lease before residents are contacted for renewing.   That being said, since this will, practically speaking, be a completely new lease, we recommend that residents should take time to review it before signing and may wish to consult a lawyer.   The Association, of course, will be happy to discuss with individual residents if so desired. 

LEASE RENEWALS:  released by the Home Owners - April 6th 2018  The Association has reconfirmed the information previously circulated; that is that clauses in the “old” leases with respect to property tax, water billing and snow clearing will be honoured.   However Parkbridge has not yet finalized the necessary legal documentation to ensure that resident’s rights are protected.   When this is done affected residents will be contacted and asked to effectively “void” the “renewed” lease and to sign a new one with the same expiry date.   This version will – in the first draft that we have seen - have a specific clause laying out the various charges applicable to a given resident and will, in other clauses, have wording to be struck out and initialed by both parties.

The Association expects to be able to check out the final version of this new lease before residents are contacted. That being said, since this will, practically speaking, be a completely new lease, we recommend that residents should take time to review it before signing and may wish to consult a lawyer.   The Association, of course, will be happy to discuss with individual residents if so desired.

Be sure to check Member Forums are presented on a quarterly basis for members to keep them up to date on issues and challenges facing the residents of Sandycove Acres.   This process was started in 2018 as a means to help improve the communications within Sandycove Acres.   To view the Member Forums held to date please click here.

 

If there are any questions, comments, concerns, etc. please e-mail them to info@scahomeowners.com and they will be followed up promptly.

 

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