What Is the Average Condo Fee in Ontario and What Affects It?

There is no single official average condo fee in Ontario, so any city-by-city per-square-foot figure you see is a rough guide only. Condo fees (common expenses) pay for maintaining the common elements, cleaning, building maintenance, condo management and reserve fund contributions. The declaration sets each unit's share as a percentage, which may vary with unit size. For example, a 5% share of a $1,000 monthly budget is $50.

That is why two units in the same city can have very different fees. The size of your unit's share, the amenities the building offers, the building's age and the work its reserve fund needs to cover all play a part. After a reserve fund study, the board must propose a plan for adequate future funding, and a board can also levy a special assessment through common expense fees. An unpaid special assessment gives the corporation a lien on the unit.

Before you buy, ask for the building's budget and its latest reserve fund study, and compare them with similar buildings. A lawyer can help you read these documents and understand what the fee covers and what could change it.