Financial Hardship Application
Financial hardship can manifest in various ways, impacting individuals uniquely. It may entail a gradual erosion of financial stability or an unexpected shift in income. Just as financial institutions and utility companies do, strata committees can opt to provide assistance to individual property owners facing temporary financial challenges. This assistance can take various forms, as there is no one-size-fits-all solution. For instance, delaying debt recovery for two properties may have a significantly different effect on a community consisting of three properties compared to one comprising 100 properties. Therefore, each strata community must independently determine what assistance, if any, it offers.
This form is intended for individual property owners seeking financial relief from their Owners Corporation. Upon receipt, your application will be sent to your strata committee for review and consideration. To avoid any delay, please ensure you provide complete information.