Q: What are the advantages of a Townhome Condominium and how does condominium ownership work?
A: A condominium is a legal form of shared ownership, where the owner holds title to the individual townhome and a shared interest in the building and grounds’ common elements. A condominium allows for the financial benefits of ownership while leaving some chores of property upkeep and maintenance to our professional property managers. Residents will purchase their condominium homes outright, and pay a monthly “condo fee” to fund all shared common area expenses. This shared fund has the benefit of resulting in lower maintenance costs as compared to what an owner of a single family home would often pay for repairs and upkeep.
Q: What are the Common Element Fees at Couture West Condominiums and what is included in the common element charge?
A: Common element fees will be 187.50 per month and includes front yard maintenance, grass mowing of common element and adjacent boulevards, snow removal to front door, building insurance, yearly safety inspections and professional management. Owners are responsible for contents insurance and property taxes as well as individual utilities to their townhome including hydro, water, gas, telephone, Internet or cable TV.
Q: As a townhome owner will I have any part to play in the ongoing operation and management of Couture West Condominiums?
A: The project will be professionally managed by a property manager engaged by the Developers and later by the Condominium Corporation Board of Directors. As a townhome owner in the development, you have voting rights in your condominium corporation. An annual general meeting of all owners will be conducted to review the business of the corporation. You may participate in the management of the corporation to a greater extent if you wish to stand for election to the Condominium Corporation’s Board of Directors.
Q: Can I purchase a townhome at Couture West Condominiums and rent it until I am ready to occupy myself?
A: You may rent your townhome provided all rules and regulations of the Corporation contained in the condominium documents are complied with.
Q: How many buildings, units and floors will Couture West have?
A: Couture West Condominiums is made up of 6 buildings with a total of 24 individual units. The development consists of the following townhomes:
- 12 The Oscar models: Two-style 3 Bed/2.5 Bath home with basement & double detached garage
- 12 The Louis models: Two-style 3 Bed/2.5 Bath home with basement & double detached garage
Q: What type of insurance will I require for my new condominium home at Couture West Condominiums?
A: The Condominium Corporation will provide insurance for the overall building. Owners will require separate condominium-unit owners’ insurance on their contents and on any options or upgrades. The Condominium Declaration provides further information.