Above all, the program gives the syndicate the possibility to obtain the full amount required to move forward with its projects by offering a financing solution to its co-owners. This in turn allows the syndicate to fulfill its mission of preserving the building.
When building directors or co-ownership managers plan or already face a difficult financial situation, they can contact the RGCQ to request a case study. If your case meets the criteria, each co-owner will then be eligible for financing. They must then decide to abide or not to the program. Once the notice of assessment is issued, only the co-owners who have requested financing will receive the notice asking them to pay for their contribution. This noticed will be accompanied by a personalized form which will present several financing options and the repayment amounts specific to their case.
This program is of no cost to the Syndicate or the co-owners who do not apply for financing. Only those who decide to finance the amount of their contribution incur an additional cost, which translates into a rate of interest on the amount financed.
For more information, contact the RGCQ at email@example.com or 514 916-7427, extension 106.