An emergency meeting is being held tomorrow for unit owners of the Brookfield Estates Condo Corporation.
Notification of the meeting was sent out late last week indicating that condo fees are being increased.
Unit owners are being provided with two options to cover an “unforeseen” and “extreme” increase in insurance premiums from $54,000 (before taxes) in 2022, to $364,523 (before taxes) for 2023.
Condo owners are upset, including one woman who called VOCM Open Line with Paddy Daly to express her concerns that the increases could force some people to lose their homes.
The notification was sent out Friday says the caller. They’ve been informed of a monthly common element fee of $445 a month starting April 1, or a one-time payment of $2,600 due in full by June 30 followed by monthly fee increases of $155 a month starting in April.
The woman says the condo unit owners, most of whom are seniors and who live on five different streets in the metro region, have to have their own insurance.
She says the increase is in the corporation’s insurance, “and now we got to pay it.”
She’s upset that the unit owners are being notified with so little time to prepare. The meeting is scheduled for tomorrow evening at 7:00 p.m. at the Shrine Club on Topsail Road.