A Homeowners’ Association is an organization created by the developer to own, operate, and maintain certain features within the community that were established by the developer and will not maintained by the municipality in the future. These features may include entrance signage, recreational buildings, ornamental parks and ponds, enhanced landscaping maintenance, pathway snow removal, community beautification, pathways, fencing upkeep, and other community areas.
The developer will legally establish the Homeowners’ Association entity early in the planning of the community if there is the knowledge that the community will have assets in need of maintenance in the future.
Establishing the CHOA protects the value of the common community amenities such as the Crestmont Hall, Tot Lot, Spray Park, parks, and green spaces, as well as entrance signage, boulevard landscaping and pathways. The CHOA ensures a high standard of maintenance of the common amenities.
The CHOA is a means of building community pride and unity through community beautification, events & activities. Active involvement in the CHOA is an excellent way to meet fellow owners, and an opportunity to help shape the future of Crestmont through planning and input. Organized events are provided to enhance the sense of community and to encourage neighbourly relations.
Membership is mandatory for all owners within the community of Crestmont and the jurisdiction of the CHOA. An Encumbrance is registered on the title of every lot in the community of Crestmont, making each owner a member of the CHOA.
Yes, like other Homeowners’ Associations, CHOA collects membership fees to operate the Association. Each household contributes to the community through an annual fee. These fees are administered through registered Encumbrances against all land titles in Crestmont and are mandatory.
The buyer’s initial encumbrance fee is pro-rated from possession date to year end (December 31) and is payable by the buyer in one lump sum, upon closing. Subsequent encumbrance fees (after the buyer’s first year of occupancy) are to be paid on an annual basis and are subject to change, in accordance with CHOA Bylaws.
All owners and residents of Crestmont will enjoy the long-term benefits of enhanced maintenance, which provides a more attractive community. This helps to maintain market values and to preserve the long-term value of each home in Crestmont, enhancing the overall community experience.
The Crestmont Homeowners Association (CHOA) is owned by all property owners in Crestmont, which is governed by a set of By-Laws and a Board of Directors. Crestmont Developments Inc. (CDI) , currently manages and controls the CHOA, until such time as the CHOA can be self-sustaining and/or the community is substantially built-out. This timeline will be solely at the discretion of CDI. Ultimately the CHOA will be fully self-funded, and operated by property owners in Crestmont with a Board of Directors elected annually at the CHOA’s Annual General Meeting.
Your monthly fees pay for the operations, management and maintenance of Crestmont’s community amenities, which may include, but are not limited to:
- Crestmont Hall and surrounding grounds
- Community pedestrian and bicycle pathways and trails
- Landscaped areas
- Fencing, gates, community entry signage on CHOA property, and the storm pond fountain
- Spray park, play structures, and fields on CHOA property
The fiscal year for CHOA is January 1 to December 31 every calendar year. Fee notices will be mailed out annually in November and fees are levied effective January 1 each year. Interest charges begin accumulating on overdue accounts as of February 1 of each calendar year at a rate of 18% per annum.
Fees for 2021 are $325.00 + GST ($341.25 total) and are subject to change, in accordance with CHOA Bylaws.
Upon closing of the initial (new construction) real estate purchase, the encumbrance fee amount is payable by the buyer in advance (pro-rated from possession date to year end), in one lump sum. Subsequent encumbrance fees (after the first year of occupancy) are to be paid on an annual basis.