Budget Newsletter 2022
Place Royale Board of Directors has approved a Zero Percent increase in Condominium Fees for 2022. This will make it nine (9) years we have been able to maintain a Zero Percent increase.
We believe that financial support is needed more now than previous years due to the pandemic and state of the economy. Our ability to maintain this zero percent increase is as a result of leadership by the Board of Directors and support from The Management, Security, Cleaning Staff, and The Superintendent.
I would also like to recognize the tenants/owners who wash their clothes outside of peak hours and those who turn off their lights when they leave their suites. Every bit counts.
Our savings are over $3,000,000 now, and we are on track to save enough funds to change the windows in 2027. We understand that there will be unforeseen repairs as we move forward but our target to replace the windows is a priority.
Whether you rent or own; the responsibility to the building is the same. This is our building and keeping it clean and safe is everyone’s responsibility.
2022 Projects
Garage Repairs
The repairs to the West Side entrances on B1 and B2 will commence in 2022 once the City of Mississauga has provided the permit.
Guest Suites
The Guest Suites completion is expected in 2022.
Domestic Hot Water
The Board of Directors will be looking to add an additional Domestic Hot Water system as a backup in 2022.
Chiller
Chiller repairs are underway and will be completed in early January 2022. A test of the system will occur in April 2022.
Drain Pressure Washing
Drains in the underground will be pressure washed in the Summer of 2022.
Stacks
The Stacks for the building will be completed between June and August 2022.
Windows Replacement
The Board of Directors will be conducting further research into the Windows Replacement project in 2022.
Swimming Pool
The Swimming is leaking and major repairs are needed. The Board of Directors will determine if repairs would start in 2022.
Changing Rooms
Repairs to the changing rooms leading to the pool will be reviewed in 2022. These repairs will only start once the Guest Suites construction is completed.
Budget 2022
Copies of the Budget will be available at Security for pick up during the week of January 11th 2022.
Sincerely,
Dev Maharaj, President Board of Directors
