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Quebec Manor Housing Co‑operative

Good Practices in Increasing Revenue from Parking Charges

“Our members understand that, if you don’t pay enough to maintain the building, you’ll soon have a building you won’t want to live in.”

Who We Are

The Quebec Manor Housing Co‑operative is a 32-unit apartment building in Vancouver. When the building was built in 1912, it provided luxury apartment living. But by 1979 it had become run-down rental housing. Tenants fighting large rent increases decided to use the new federal co‑operative housing program to form a housing co‑operative, buy the building and renovate it. The co‑op has continued to provide affordable housing since its incorporation in 1980.

Our Story

Two years after the co‑op was incorporated, we learned there were plans to build a garage on the lot immediately east of the building. This would have increased noise levels and blocked light for the units on that side of the building. The co‑op was able to purchase that land with a 25% down payment from members’ shares. The rest of the cost was added to the existing mortgage.

The co‑op originally planned to use the new property as a garden. However, only one-third came to be used as garden/common space. Instead, the co‑op created 13 parking spaces. The parking was allocated on a first come/first served basis and was free to members.

In 2007, the co‑op found itself short of subsidy and decided to create an internal-subsidy pool. The Finance Committee presented a budget that included parking fees and higher laundry charges.

Initially, the charge for a parking pass was set at $10 per month. During the day, any member may park in the lot but in the evening, parking is available only to those with passes. As there are more passes than parking spots, parking is on a first come/first serve basis.

That same year, the co‑op decided that building its capital replacement reserve was also a priority. All parking revenue was allocated to the capital reserve, along with other funds. To this end, the cost of a parking pass rose to $25 per month in 2010 and $30 in 2012. This rate is still quite a bargain compared to renting a spot elsewhere in the neighborhood.

What Others Can Learn from the Quebec Manor Story

  • The Finance Committee always presents a report that explains why the co‑op needs increases in housing charges and new sources of revenue.
  • Our co‑op members understand that housing charges are affordable compared to rents in the area. The co‑op has always increased housing charges annually. Members understand that we need to maintain the building, or it will quickly become the kind of place we don’t want to live in.
  • Parking is an obvious area where members are receiving a benefit and could be asked to pay for it. Parking charges are still a bargain compared to other lots in the area. Some members have even suggested renting the spaces to a parking company to bring in revenue from outside the co‑op by renting to workers in the area during the day.

Parking Revenue by Year

    2010 2011 2012 2013
    $1,770 $3.625 $3,925 $4,350

Background

Co‑op name:   Quebec Manor
Location:   Vancouver, BC
Program:   Section 95
Number of Units:   32
Unit Type:   Apartments
Date of Occupancy:   1980
Management Model:   Management Company