Homeowner's Information

Sublease Summary

  • The original head lease expires in June 2073 on a 99 years prepaid term held by Lakeridge Park Residential Corporation – WFN Development Limited Partnership.
  • The annual service fee is outlined on Schedule “A” of the lease. The fee is billed in the calendar year, and due January 3 each year.
  • Taxes – The Sublessee will pay all applicable taxes imposed by any Authority, on the lands, for sales, transactions, or business relating to the Lands, or for occupation of the Lands by any Person
  • Services – the Sublessee will provide and maintain all services and facilities (including water, gas, sewage, and garbage disposal.
  • Mortgage – the Sublessee may mortgage its interest in this Lease by any means without the consent of the Lessor. The Lessor confirms that any Mortgagee of any interest in the leasehold estate may fully enforce its security and acquire the leasehold estate in any lawful way
  • Improvements and alterations – the Lessee must obtain any required permits and/or approvals prior to construction of improvements from Westbank First Nation Government.
  • Please speak with your realtor, and lawyer for advisory information when purchasing or selling your home

Modernization Project Objectives

  1. Enhanced contract language accepted by CMHC for mortgage insurance products.
  2. Eliminate the redundancy of dual registration in the BC Land Title Office in favour of registering solely in the WFN Self-Governing Land Act Registry, administered in Ottawa.
  3. Optimize the annual fee for maintenance of the common areas and infrastructure.
  4. See the information statement here. See the new registered lease here.
  5. Please contact our property specialist for sublease sales. Jeff Leishman at jeff@vlsdevelopments.com | 250-863-6416

Frequently Asked Questions

1What does the annual service fee include?

The annual service fee is used for common area maintenance such as street lighting, sanctioned trails in the subdivision boundary, grass cutting, and ditch cleaning. The fee also exists to pay for general administration, and future road replacement.

The fee is not a monthly stratum fee, and does not include items like garbage pickup, recycling, or snow plowing (plowing is done by WFN and/or Province of BC depending on established road jurisdictions). Lakeridge is a unique subdivision due to the time of when the development was created.

2How do I pay the annual service fees?

Fees are paid at your convenience at the Lakeridge Park Residential Corporation (Ntityix Development) office using debit, cash, or cheque. Cheques can be mailed and written to “Lakeridge Park Residential Corp." The office is located in Vintage View shopping centre

#102-3480 Carrington Road
Westbank, BC V4T 3C1

Online Banking Instructions:

Interac e-transfer

email: officeadmin@ntityix.com
message: Lot ###, address and invoice #

Please include your lot number and address in the message of your Interac e-transfer

3Who currently services the common areas in Lakeridge Park?
The common area maintenance is responsible by Lakeridge Park Residential Corporation and subcontracted to the Westbank First Nation maintenance department. Please contact Lakeridge directly for the service requests. The service request form on this site is preferred for service requests.
4Who do I contact for any general inquiries?
Please contact the Lakeridge Park Residential Office here for any general inquiries.

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