Find all the important documents associated with the operations of the Residents Association.
Membership in the Summerside Residents Association is automatic and mandatory with the purchase of a home in Lake Summerside. The payment of dues, which is reviewed and established annually, is secured by an Encumbrance (subject to upward adjustment for inflation) registered on the title of each member’s property. The Association, including the operation of Lake Summerside, is administered by a Board of Directors made up of Brookfield Residential and resident representatives.
Annual fees (including GST) for 2020 are due by January 1, 2020.
Lake Front $950.15
Lake Access $554.30
*Annual fees are subject to annual compounded inflation increases and GST.
Fees are due January 1.
At the beginning of February interest is applied to all outstanding accounts (5% per annum in excess of the prime rate of interest). Interest will be applied on the first business day of each month. Outstanding accounts will be suspended with no access to the park amenities at this time.
At the beginning of March: Final notice of required payments will be issued to all outstanding accounts.
At the beginning of April: Accounts are handed over to the Summerside Resident Association’s legal counsel, Field Law LLP, for collections.
As well, please note:
Payments are no longer accepted by Summerside Resident Association. All payments and communication regarding collection of fees is done directly between the homeowner and Field Law LLP.
Legal costs association with the collection of fees, as determined by Field Law LLP, will be charged back to the homeowner.
It is each homeowner’s responsibility to ensure that payments are received by the Summerside Residents Association, in full, by the due dates. Late payment charges will be applied to each account in arrears until full payment is received.