The Condominium Act requires owners be given at least 10 days notice that a lien will be registered against their unit for unpaid common expenses and this notice must be given by serving a Form 14 on the owner.
It is our hope that owners honour their obligation to pay common element fees as they are due on the first day of each and every month. We understand, however, that financial situations can change, which may result in overdue accounts, and it is in the owner’s best interest to resolve this concern as soon as possible and communicate with our office when arrears have occurred.
At Maple Ridge, a consistent arrears collection policy has been established ensuring that at all times the corporation’s interests are protected. Its application is universal and is triggered by the status of the account in question. It is our hope all owners will remain current and that these efforts will serve as reminders and minimize lien activity.
In summary, the timelines of the Maple Ridge arrears collection and lien policy are as follows:
- All payments are due on the first of the month.
- Post-dated cheques and pre-authorized payment plans are encouraged.
Day 31-60: Those owners who are 2 months in arrears receive a warning letter – A Notice of Intent to Lien (NOIL or Red Letter). This Notice states legal action will be taken against the unit and all associated costs will be added to the account if it is not brought up to date.
Day 61-70: Upon Property Manager’s initiation, the Accounts Receivable clerk verifies payment has still not been received. Individual account statements are printed and are reviewed (complete with any notes on the account) the unit.
Day 71-80: Notice of Lien (Form 14) is issued and, if within 10 days, there has been no payment or contact, the lien is registered on title and all associated costs are added to the homeowner’s account.
If necessary, the Board would determine and approve a timetable for any Power of Sale activity against the unit.