- Upkeep of common property elements (landscape, carpets, painting, exterior windows, etc.)
- Contribution to the Reserve Fund used for major repairs
- Property Maintenance Fees
- Condo Employee Salaries such as security guards, superintendent, pool or gym staff etc.
- Amenities, such as recreational facilities.
- The Corporation insurance policies
- Cable or internet
Condominium or Strata Maintenance Fees
If you are thinking of purchasing a condominium, you must calculate building or townhouses Condo/Strata Maintenance Fees. We'll start answering a few questions common questions to assist you in your understanding of Condominium or Strata Maintenance Fees. What are Condo Fees? Condo maintenance fees are your percentage share of the costs to run the building as a whole and are charged to cover cost of landscaping, amenities, repairs, insurance etc. Usually they are charged monthly. In many cases townhouses pay a lower monthly fee but will have additional utility bills. Condo fees are similar to fees you would need to pay if you purchased a house, the difference is you don't have very much control over how the fees are spent and you are sharing the cost of maintenance with the other condo owners. If you decide you don't want to purchase a condo because you think condo fees are extra, remember a house will require repairs and maintenance and can also get very costly. Also as a hurrah for Condo's, some Condo Maintenance fees include extras like Heat, Cable, Internet, Insurance and more. What is Included in the Condo Fees? Fees are calculated from annual operating costs of the condominium and divided as a percentage of the contribution you would make to the common expenses. To give you a better idea, we've listed some of expenses which may include the following: