Sunday, December 03, 2017

Zero % increase in condo fees

Zero % increase in condo fees for Five (5) Years in a Row

Dear Owners

Over the past Four Years Place Royale Board of Directors have worked very conscientiously to ensure that ongoing improvements to the building are achieved based on our action plans outlined at our AGMs and in our posted Newsletters. More importantly, achieving these improvements without causing financial burden to owners is always at the forefront of our decision making.

For FOUR years, owners at Place Royale "PCC239" have enjoyed a zero percent increase in Condo fees. This zero percent increase is a result of hard work and dedication by Place Royale Board of Directors and I would like to thank my entire team for their commitment and teamwork. Board members sacrifice their family time and personal time for the building and this effort must be recognized. The collective efforts of Place Royale Board of Directors and the Management have afforded us the ability to reinvest savings into the building.

Condo Fees for 2018

Vice President Val DobrolevskiIn making his recommendation on the budget ran a number of simulations based on inflation and project budget requirements for 2018. His findings were that even though PRBD completed major construction to the building, our ability to save was still very strong. 

Therefore, based on this recommendation on behalf of Place Royale Board of Directors I hereby declare that there will be a Zero Percent increase in Condo Fees for the 2018 fiscal year.

Copies of the Budget for 2018 are at Security for pickup.

Constant Improvement

Constant upgrading of our property increases the value of our investment. The eventual completion of our Guest Suites will provide residents with the ability to invite family and friends for events and provide them with accommodations that is of a high quality and at a reasonable price. This investment will also provide the building with an added income. A good example is our Party Room, for which the total intake for the year is over $8,000.

Board Member Manny Dos Santos who is a Realtor with over 10 years of experience in the Real Estate Business pointed out that one unit on the 19th floor sold for over $419,000 this year. The same unit was sold for $178,000.00 four years ago.

Play Your Part

With this amazing accomplishment in mind, Place Royale Board of Directors would like to ask Residents to treat the entire building as your own. Your responsibility extends outside of your
suites. We ask that you make contributions in the following areas:

· Change your light bulbs to LED
· Turn off the lights when you leave your suite
· Wash your clothes after 8pm
· Clean your lint traps
· Make sure that your garbage goes down the chute
· Recycle
· Do not throw oil used for frying down your kitchen sink; this clogs the drains and cost the Corporation a lot of money to repair

2017 Improvements at a glance

Tree Removal: Over 49 trees had to be removed due to disease.

Emergency Work on South Side of Building: Emergency work had to be done on the south side of the Building due to heavy rains washing dirt and debris to the sidewalk on Mississauga Valley Blvd. The solution: a weeping system was put in along Arista Way and along the length of the South Side of the building on Mississauga Valley Blvd near the sidewalk. This cost was not a budgeted cost and set back the completion of the Friendship Pathway a few months.

The Friendship Pathway: This pathway solved a 32 year old problem of residents entering and exiting via the garage entrance. Security reports show that 99% of residents now use the pathway. Pending work on the Friendship Pathway includes a railing and at least three light poles.

Leak on B1 Level near the entrance to the Garage: Place Royale Board of directors have been working with contractors to solve this leak. After six months of testing, contractors found that there were a number of leaks in one sprinkler line. Over 250ft of sprinkler line was changed. The leak has now stopped; however further investigation might be required if the area leaks when it rains. If there is water in the area due to rain then the area outside the garage will be excavated and waterproofed in 2018.

Ongoing Repairs

· Repairs to the B1 Garage membrane
· Repairs to the B2 Garage Columns
· Resurfacing of B2 to reduce dust (Asphalt or Heavy duty polymer)
· Painting of the underground garage B1 and B2
· Changing of all lights on each floor to LED
· Cleaning of the Stacks

Upcoming Projects in 2018 (Based on Budget)

· Repair of the Swimming Pool and Changing Rooms
· Repair of the Games Room located on the G Level

Dev Maharaj: President Board of Directors