Why Convert to a Co-Ownership?

It is primarily a question of local by-laws. Some cities have different regulations than others so we simply move in whatever direction delivers the most compelling value to our investors.


Win Win

You, the investor, win for many reasons:

  • You would pay approximately $250 Sq. Ft. for an equivalent suite where at Mentor you are paying approximately $160 Sq. Ft.
  • The Mentor Suite has a “built in value“ of $10,000.
  • You are buying prime real estate in Toronto where property has appreciated an average of over 6.4% over the last 23 years.

“Built in Value” is based on additional renovations being done to the suite and based on today’s pricing. No guarantees or assurances are made as to future values. Purchaser should conduct his/her own investigations and due diligence.

We win because:

  • We are receiving slightly better than "bulk" pricing for our suites.
  • We are creating an investment community for future investment opportunities.
  • We are proving that we are an innovative leader in our field.
  • Purchaser owns a suite in the building, subject to the bylaws of the Corporation that owns the common areas.
     
  • Purchaser has the exclusive right to occupy a specific suite, by way of a deed on title, subject to the Tenant Protection Act.
     
  • Individual mortgages can be obtained, as the lender’s interest is secured by a deed.
     
  • Purchaser does not need the consent of the other owners, or the Condominium Corporation, to buy, sell, or rent a suite.
     
  • Purchaser is subject to the Rules and By-Laws of the Condominium Corporation.
     
  • Purchaser can participate in management decisions by sitting on the board of directors and voting at the annual general meeting.
     
  • A Reserve Fund is established for planned Capital expenditures in the building.
  • Purchaser owns a percentage interest in the Corporation that owns the entire building, including the common areas.
     
  • Purchaser has the exclusive right to occupy a specific suite, by way of a deed on title, subject to the Tenant Protection Act.
     
  • Individual mortgages can be obtained, as the lender’s interest is secured by a deed.
     
  • Purchaser does not need the consent of the other owners, or the Co-Ownership Corporation, to buy, sell, or rent a suite.
     
  • Purchaser is subject to the Rules and By-Laws of the Co-ownership Corporation.
     
  • Purchaser can participate in management decisions by sitting on the board of directors and voting at the annual general meeting.
     
  • A Capital Fund is established for planned Capital expenditures in the building.
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