COTTONWOOD CREEK COMMUNITY
– AN INTENTIONAL RENTAL COMMUNITY –
Keeping our RENTAL RATES as low as possible
Preamble: Safe and affordable housing is a challenge to secure and maintain. The existing rental rates are beyond the means of those who are most needy. At Cottonwood Creek Community, using private funding, [yours and ours] we are committing to providing safe and affordable housing without squalor. “To create a more humane, sustainable way of life that is with lowered costs to the natural environment, that is our intention” (Barrow Hutchison).
History: A reality for us is that operating costs continue to increase at a steady [see RTA] % rate. We have always invited our fellow Residents to take on a chore to help offset operating costs.
The Residential Tenancy Act (R.T.A.) is the governing legislation in British Columbia that applies to tenancy agreements. ‘The allowable rent increase is set yearly by the RTA.
a) Tenants must be given at least 3 full months notice if a rent rate is to be increased
b) A notice of rent increase must be issued using the approved govt. issued form RTB-7
The Plan: We shall review all costs of operations for the last 6 months by the end of June on an annual basis to determine if a rental rate increase is warranted. If warranted and applicable, rent increase letters will be sent out at that time with proper notice.
In addition, residents who have joined us in the month of March two years before the June review will receive a 4 to 5 months notice to meet the requested rental increase. We want our residents to know that they are appreciated and all considerations will be made to accommodate requests for assistance.
The Monthly Resident Expense Sheet
We keep this information format to show how we proportion the costs of operation. The Unit Rent is calculated on the cost for the care and maintenance of the buildings and grounds; and the running costs are listed for the operation. The Security Deposit is calculated on the amount assigned to the cost of care and maintenance of the buildings and grounds at a rate of 50% of the monthly rent.
The other portion is the listing of the monthly operating expenses which varies by the Unit that you have chosen.
We list on this sheet the amount of the Security deposit, so you will remember how much we will refund to you after the Move Out Inpection is complete. In addition there can be other items listed as per your Rental agreement.
Please keep everyone’s needs in mind. You can do your part by checking with the caretaker as to where you can lend a hand outside and in. We believe that there is incredible potential for a strong, stable, and fiscally responsible community at Cottonwood Creek. Are we showing an intention by keeping our costs as low as possible? Please provide feedback to the Property Manager. Keeping Faith with the Spirit of Cottonwood Creek Community is strong. “Let each of us ensoul the place where we stand” (modified Rumi). Springtime; is gardening time, in the Kootenai! It is happening everywhere. As many vegetables and flowers thrive when nurtured, so does our community when tended!
February, 2018
Gerald Beaudry;
B.A. Child and Youth Care
B.S.W. Social Work
Property Manager
Cottonwood Creek Community
WHY DO RENTS INCREASE?
Further to our Rent Increase policy.
Our Property Manager [PM] has shared the allowed Rent Increase for this coming year WITH YOU. This is an amount selected by our provincial government’s study of the annual increasing costs of living.
During 1961 to 1965 inflation averaged 1.28%. Since that time the CUMULATIVE inflation is way over 350% for Medium Rental Housing. The costs keep going up!Everyone has an inflation story or worry. The Canadian Consumer Price Index keeps a record as demand for items pushes the price of everything we buy higher [OR LOWER], for example labour costs; with the resulting value of money decreasing! Decreasing purchasing power, at a rate of 4.1% presently! OR another way of saying IT, an inflation rate of 4.1%!
It is all rooted in Supply and Demand. Consumer Demand pushes prices up and Inflation is the result. The present Inflation rate is the highest in 40 YEARS! And that is why there is a rent increase yearly.
There is no human rights view here. A human right is a FIRST social responsibility, and it is up to us working together TO ADDRESS these challenges. Inflation bites at family income spent on food, clothing and energy – power and gas. Not much left over for discretionary spending!!
Who feels this devalued $ the most? It takes more money to buy the same item we bought last year.
-Wage earners
-Retired folks
-Folks on a fixed/pension income
There is very little these three groups can do!
SO keep your personal expenses down [avoid Credit cards]/share costs with others and encourage neighbours to do the same.
LESS DEMAND ON RESOURCES, LOWERS THE COST OF OPERATIONS FOR C. C. C. Self-care is what makes community possible. Care for yourself makes helping others possible!
Your offers to help around the property can help keep costs down and can put $ in your pocket. Enjoy the resulting connections and Community life. Study your Unit’s Monthly Expense Sheet [available from our PM], soon to be updated.
HAPPY New Year Savings!
Barrow and Gerald December 2021.