- Paying the Deposit Members must pay a member deposit to the co-op. Members must pay the deposit before moving into their unit.
- The Amount of the Member Deposit All members have to pay a member deposit of $1250.00, in spite of if they receive a subsidy or not.
- Returning the Member Deposit The co-op will return the member deposit 30 days after the member leaves the unit permanantly. Before returning the deposit, the co-op can deduct any amount which the member owes because:
- the member did not give enough notice
- the unit was not left in the condition stated in section 5.9 of the Occupancy By-Law
- the member owes money to the co-op, or
- the member did not pay the last month's housing charge.
- the member did not pay the last month's hydro bill