How can I pay strata fees?
Strata fees can be paid by cash, cheque, bank draft, wire transfer or EFT (Electronic Funds Transfer). They cannot be paid by credit card. Strata fees are due on the first of the month unless your property requires payment semi-annually or annually. Your strata fees are based on unit entitlement (the size of your unit) and are established by the property developer and registered in the BC Land Title Office.
How can I pay by Electronic Funds Transfer (EFT)?
If you would like your payments deducted from your Canadian bank account, please submit an EFT form along with a void cheque or bank statement stamped by your financial institution. This form and void cheque can be emailed, faxed, mailed or dropped off at our office before the 25th of the month in order to have payment withdrawn in the following month. An EFT form is included with your annual general meeting package, welcome package or can be requested by contacting email@example.com
How do I cancel or change my EFT form?
To make a change to your account information, send a new void cheque to wrm along with your written request for a change to your withdrawal details. If you would like to terminate your EFT deduction, contact wrm in writing before the 25th of the month in order to stop the deduction from your account the following month.
Do I need to pay strata fees when my property is in year-end?
Strata fees are required to be paid year round. When your property is in year-end, your fees will continue to be billed at last year’s rate in order to pay the on-going expenses of your strata corporation. If new fees have been established at the annual general meeting, a retroactive fee adjustment will be charged and back-dated to the start of the property’s fiscal year. You will be notified of any adjustments in the minutes of the AGM package. This adjustment will be withdrawn with the next strata fee deduction if you are on EFT.
Will I receive a statement or invoice for my strata fees or special levy?
A schedule of payments will be included with every annual general meeting package. This is the only ‘invoice’ or statement you will receive throughout the year; monthly statements are not provided. Please save this payment schedule as your invoice to submit for tax purposes. If there is a special levy due, the schedule of payments will also be included in your package.
If you are in arrears, a statement will be sent to you as a reminder that your strata fees/levy are outstanding. Interest and penalties will be charged according to your strata property’s bylaws.
How do I pay my special levy?
Special levies are not automatically deducted with your monthly strata fees (if paying by EFT). You must contact the accounting department in writing by the 25th of the month prior to the due date to arrange to have your levy payment taken automatically the following month. If you do not wish to pay by EFT, or if you normally pay strata fees by another means, you may pay your special levy by cash, cheque, post-dated cheque, bank draft or wire transfer. Credit cards are not accepted.