{"id":13496,"date":"2017-08-01T01:00:12","date_gmt":"2017-08-01T05:00:12","guid":{"rendered":"http:\/\/www.zoocasa.com\/blog\/?p=13496"},"modified":"2017-08-01T14:00:07","modified_gmt":"2017-08-01T18:00:07","slug":"how-are-condo-fees-calculated","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/","title":{"rendered":"How are Condo Fees Calculated?"},"content":{"rendered":"<p>New changes to the way <a href=\"http:\/\/www.zoocasa.com\/toronto-on-condos\">Toronto condos<\/a> are managed \u2013 and the amount of fees paid by residents \u2013 are on the way.<\/p>\n<p>As of November, the majority of the Condominium Management Services Act, which was passed by the Ontario legislature in 2015, will finally come into force. The act is part of Bill 106, better known as the <a href=\"http:\/\/www.ontla.on.ca\/web\/bills\/bills_detail.do?locale=en&amp;BillID=3399&amp;detailPage=bills_detail_status\" target=\"_blank\">Protecting Condominium Owners Act,\u00a0<\/a>and will have clear ramifications for a large number of condo dwellers.<\/p>\n<p>In the most recent National Household Survey (NHS) conducted in 2011 by Statistics Canada, data showed that 1,615,485 households (12.1 per cent of the population) lived either as owners or renters in condos. A more recent study by the Association of Condominium Managers of Ontario revealed there are more than 1.3 million condo residents in the province.<br \/>\nNowhere is this more pronounced than in the GTA, specifically in Toronto\u2019s downtown core where the skyline has transformed over the past decade. As more people are priced out of the detached house market, <a href=\"http:\/\/www.zoocasa.com\/toronto-on-condos\">condos in Toronto<\/a> have become the dwelling of choice for many. But while many prospective buyers and renters are now electing to go the condo route, there are some additional costs they may be unaware of, in particular, maintenance fees.<\/p>\n<p><strong>Related Read: <a href=\"https:\/\/www.zoocasa.com\/blog\/what-are-pre-construction-condo-development-charges\/\">What Are Pre-Construction Condo Development Charges?<\/a><\/strong><\/p>\n<p>Just how much someone pays in condo fees can fluctuate widely, and there are a number of variables that go into deciding just how much you pay.<\/p>\n<h2>Size Matters When Calculating Condo Fees<\/h2>\n<p>Steven Christodoulou\u00a0is president and CEO of ICC Property, a condo management company that has been operating across the GTA for 25 years. The firm manages 175 condo buildings across the region, accounting for 19,000 units. Todoulou oversees the maintenance and upkeep of an array of different buildings, with contrasting fees to match.<\/p>\n<p>\u201cPeople like to compare condo fees and someone might wonder why they are paying $400 when their neighbour is paying $300,\u201d he explains. \u201cYou might have a condo with 150 units, or one with 250 units. Each of the condos may have three elevators, the same sized roof, the same security contract, but the smaller condo has 100 less units to amortize the costs over. So size of condominiums plays a huge role in fees.\u201d<\/p>\n<h2>Older Buildings Tend to Have Higher Fees<\/h2>\n<p>Aside from the size of the condo, the building\u2019s age also factors into the fees residents will pay. The general rule is the older the building, the higher the fee, but for different reasons, as Christodoulou outlines.<\/p>\n<p>\u201cSome of the older condos tend to have higher maintenance fees because utilities are normally included,\u201d he says. \u201cIn newer condos the gas and hydro will normally be over and above your maintenance fees.\u201d<\/p>\n<p>Also to take into account is general wear and tear, which is a formality when you are dealing with -30C weather each winter.<\/p>\n<p>\u201cBrand new buildings have 25 years before they need to replace an underground parking garage, for example,\u201d he says. \u201cSome of the older buildings are at a point where that work needs to happen now, so their maintenance fees will tend to be a little higher.\u201d<\/p>\n<h2><strong>You\u2019ll Pay for Great Service<\/strong><\/h2>\n<p>When it comes to condo management and the fees people pay, location isn\u2019t a major factor, but the type of building certainly is. If you expect premium service, then expect to pay premium prices.<\/p>\n<p>\u201cWe manage a lot of buildings in the Yorkville area that are very high-end,\u201d says Christodoulou. \u201cThe customers are very discerning, so we have an 80-unit building with a full time property manager, a 24\/7 concierge, and valet parking. Generally these fees will be the highest in the city because of all the services the owners are looking for.\u201d<\/p>\n<h2>Condo Management Selected by the Board<\/h2>\n<p>A condominium\u2019s management company is usually selected by the building\u2019s board of directors, which is elected by the owners. That company is then responsible for the maintenance and general upkeep of the building, including landscaping, elevator costs, housekeeping, insurance, repairs, maintenance and utilities. Their role is therefore crucial, but it\u2019s a role that didn\u2019t have adequate regulatory oversight until Bill 106 came into play, explains the ICC head.<\/p>\n<p>\u201cThe need for professional management is more important than ever,\u201d says Christodoulou. \u201cPart of that legislation means all condo managers now need to be licensed by the Condominium Manager Regulatory Authority of Ontario (CMRAO). I have always found it absurd that you need a license to sell one unit, but not to manage 300.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New changes to the way Toronto condos are managed \u2013 and the amount of fees paid by residents \u2013 are on the way. As of November, the majority of the Condominium Management Services Act, which was passed by the Ontario legislature in 2015, will finally come into force. The act is part of Bill 106, [&hellip;]<\/p>\n","protected":false},"author":47,"featured_media":13498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard"},"jnews_primary_category":[],"footnotes":""},"categories":[42,181],"tags":[],"class_list":["post-13496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-condominiums","category-toronto-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How are Condo Fees Calculated? | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"How are condo fees calculated, and why do some buildings have much higher costs than others? The age, size and services offered in the building can...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How are Condo Fees Calculated? | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"How are condo fees calculated, and why do some buildings have much higher costs than others? The age, size and services offered in the building can...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-01T05:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-08-01T18:00:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2017\/07\/Canadian-short-term-rental-destinations.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"511\" \/>\n\t<meta property=\"og:image:height\" content=\"337\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Daibhead O\u2019Ceallach\u00e1in\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daibhead O\u2019Ceallach\u00e1in\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/\"},\"author\":{\"name\":\"Daibhead O\u2019Ceallach\u00e1in\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/c0d08780fafb880638fe17d0ded87bb3\"},\"headline\":\"How are Condo Fees Calculated?\",\"datePublished\":\"2017-08-01T05:00:12+00:00\",\"dateModified\":\"2017-08-01T18:00:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/\"},\"wordCount\":742,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Condominiums\",\"Toronto Real Estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/\",\"name\":\"How are Condo Fees Calculated? | Zoocasa Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2017-08-01T05:00:12+00:00\",\"dateModified\":\"2017-08-01T18:00:07+00:00\",\"description\":\"How are condo fees calculated, and why do some buildings have much higher costs than others? The age, size and services offered in the building can...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.zoocasa.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How are Condo Fees Calculated?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/\",\"name\":\"Zoocasa Blog\",\"description\":\"Home Buying &amp; Selling Tips, Real Estate Market Trends &amp; News\",\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.zoocasa.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\",\"name\":\"Zoocasa\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png\",\"contentUrl\":\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png\",\"width\":800,\"height\":800,\"caption\":\"Zoocasa\"},\"image\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Zoocasa\",\"https:\/\/twitter.com\/Zoocasa\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/c0d08780fafb880638fe17d0ded87bb3\",\"name\":\"Daibhead O\u2019Ceallach\u00e1in\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2a539d6520266b56c3b0c525b9e6128858baeccb5ee9b694a2906e123c8d6dd3?s=96&d=blank&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2a539d6520266b56c3b0c525b9e6128858baeccb5ee9b694a2906e123c8d6dd3?s=96&d=blank&r=g\",\"caption\":\"Daibhead O\u2019Ceallach\u00e1in\"},\"description\":\"Daibhead O\u2019Ceallach\u00e1in is a freelance writer from Ireland that moved to Toronto in 2010. Writing for his local newspaper, he covered real estate during Ireland\u2019s \u201cCeltic Tiger\u201d era and the subsequent housing crash and financial crisis. Today he writes about real estate, finance and politics in Canada, the U.S., Ireland and England.\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/author\/daibheadoceallachain\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How are Condo Fees Calculated? | Zoocasa Blog","description":"How are condo fees calculated, and why do some buildings have much higher costs than others? The age, size and services offered in the building can...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/","og_locale":"en_US","og_type":"article","og_title":"How are Condo Fees Calculated? | Zoocasa Blog","og_description":"How are condo fees calculated, and why do some buildings have much higher costs than others? The age, size and services offered in the building can...","og_url":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/","og_site_name":"Zoocasa Blog","article_publisher":"https:\/\/www.facebook.com\/Zoocasa","article_published_time":"2017-08-01T05:00:12+00:00","article_modified_time":"2017-08-01T18:00:07+00:00","og_image":[{"width":511,"height":337,"url":"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2017\/07\/Canadian-short-term-rental-destinations.jpg","type":"image\/jpeg"}],"author":"Daibhead O\u2019Ceallach\u00e1in","twitter_card":"summary_large_image","twitter_creator":"@Zoocasa","twitter_site":"@Zoocasa","twitter_misc":{"Written by":"Daibhead O\u2019Ceallach\u00e1in","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/#article","isPartOf":{"@id":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/"},"author":{"name":"Daibhead O\u2019Ceallach\u00e1in","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/c0d08780fafb880638fe17d0ded87bb3"},"headline":"How are Condo Fees Calculated?","datePublished":"2017-08-01T05:00:12+00:00","dateModified":"2017-08-01T18:00:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/"},"wordCount":742,"commentCount":0,"publisher":{"@id":"https:\/\/www.zoocasa.com\/blog\/#organization"},"articleSection":["Condominiums","Toronto Real Estate"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/","url":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/","name":"How are Condo Fees Calculated? | Zoocasa Blog","isPartOf":{"@id":"https:\/\/www.zoocasa.com\/blog\/#website"},"datePublished":"2017-08-01T05:00:12+00:00","dateModified":"2017-08-01T18:00:07+00:00","description":"How are condo fees calculated, and why do some buildings have much higher costs than others? The age, size and services offered in the building can...","breadcrumb":{"@id":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.zoocasa.com\/blog\/how-are-condo-fees-calculated\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zoocasa.com\/blog\/"},{"@type":"ListItem","position":2,"name":"How are Condo Fees Calculated?"}]},{"@type":"WebSite","@id":"https:\/\/www.zoocasa.com\/blog\/#website","url":"https:\/\/www.zoocasa.com\/blog\/","name":"Zoocasa Blog","description":"Home Buying &amp; Selling Tips, Real Estate Market Trends &amp; News","publisher":{"@id":"https:\/\/www.zoocasa.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zoocasa.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zoocasa.com\/blog\/#organization","name":"Zoocasa","url":"https:\/\/www.zoocasa.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png","contentUrl":"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png","width":800,"height":800,"caption":"Zoocasa"},"image":{"@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Zoocasa","https:\/\/twitter.com\/Zoocasa"]},{"@type":"Person","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/c0d08780fafb880638fe17d0ded87bb3","name":"Daibhead O\u2019Ceallach\u00e1in","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2a539d6520266b56c3b0c525b9e6128858baeccb5ee9b694a2906e123c8d6dd3?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2a539d6520266b56c3b0c525b9e6128858baeccb5ee9b694a2906e123c8d6dd3?s=96&d=blank&r=g","caption":"Daibhead O\u2019Ceallach\u00e1in"},"description":"Daibhead O\u2019Ceallach\u00e1in is a freelance writer from Ireland that moved to Toronto in 2010. Writing for his local newspaper, he covered real estate during Ireland\u2019s \u201cCeltic Tiger\u201d era and the subsequent housing crash and financial crisis. Today he writes about real estate, finance and politics in Canada, the U.S., Ireland and England.","url":"https:\/\/www.zoocasa.com\/blog\/author\/daibheadoceallachain\/"}]}},"_links":{"self":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/posts\/13496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/comments?post=13496"}],"version-history":[{"count":0,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/posts\/13496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/media\/13498"}],"wp:attachment":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/media?parent=13496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/categories?post=13496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/tags?post=13496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}