- Condo fees cover maintaining common elements, reserve fund contributions and services such as cleaning and building maintenance.
- Your share is set by a percentage in the declaration, which may vary with unit size, not necessarily a flat rate per square foot.
- A status certificate shows a unit's common expenses, any arrears, increases and special assessments, so it is the best way to compare real numbers.
- The board can charge a special assessment on top of regular fees when there are large shortfalls.
If you are comparing buildings, it is natural to look for a typical monthly fee or a rate per square foot. The trouble is that fees reflect each building's age, amenities, services and savings, so a single Ontario average can mislead you.
This article explains what fees pay for, how your share is calculated, what tends to make fees higher or lower, and how to compare real figures for the buildings you are considering.
Why a single average is not very useful
Condo fees, also called common expenses or maintenance fees, are the financial obligation shared among all owners. Each corporation sets its own budget for its own building, so two units of the same size in different buildings, or even in the same city, can carry very different fees.
Published averages and per-square-foot figures vary by source, by city and by year, and they change often. For that reason this article does not quote one. The reliable approach is to look at the actual budget and documents for the building in front of you.
What condo fees pay for
Fees cover maintaining the common elements, contributions to the reserve fund, and services such as cleaning and building maintenance. The reserve fund is money set aside for major future repairs and replacements, so how well a building is saving matters as much as what it spends today.
Exactly what a fee includes can vary, so check the budget and the declaration rather than assuming, and ask the corporation if anything is unclear.
How your share is calculated
The declaration sets each unit's proportion of the common expenses. It is a percentage that may vary with unit size, and an owner's share is generally the annual budget multiplied by that percentage. For example, a $1,000 monthly budget and a 5% share means $50 a month.
This is why per-square-foot comparisons are only a rough guide. The percentage may track size, but it is the declaration that decides, and the Act requires the declaration to state each unit's proportion. Changing those proportions needs the consent of 90% of owners.
What can make fees higher or lower
| Factor | Why it matters | Where to check |
|---|---|---|
| Size of unit | Share may vary with unit size | Declaration |
| Services and upkeep | Cleaning and building maintenance are paid from fees | Current budget |
| Reserve fund contributions | Part of fees goes to the reserve fund | Reserve fund study and status |
| Shortfalls | Large shortfalls can lead to special assessments | Status certificate |
| Recent increases | The certificate shows increases and the reason | Status certificate |
A low fee is not automatically a bargain. If a building is under-saving, the gap may show up later as a fee increase or a special assessment. The board can charge a special assessment through condo fees without owner permission, using the same percentage as common expenses.
Whether there is a legal limit on annual fee increases depends on the Act and the declaration, so a lawyer should confirm it for your situation before you rely on any assumption.
What to do next when comparing buildings
For a resale, the status certificate is the key document. A corporation may charge no more than $100, including all applicable taxes, and must provide it within 10 days of the request. It can show the unit's common expenses and whether it is in arrears, any increase and the reason, and special assessments charged since the current budget.
A status certificate also comes with the declaration, by-laws and rules, the current budget, the latest audited financial statements, the latest reserve fund study and status, insurance certificates, and any outstanding judgments or litigation. Buyers of a resale condo are advised to have a lawyer review the certificate and to check the CAO's Condo Registry.
For a new condo from the builder, the disclosure statement includes the budget statement for the first year after the corporation is registered. Buyers also have a 10-day cooling-off period in which they may rescind the agreement.
- Ask for the status certificate early and note the 10-day delivery window.
- Read the current budget and the latest audited financial statements.
- Read the reserve fund study and see how the fund is doing.
- Look for recent increases, special assessments and any litigation.
- Confirm your unit's percentage share in the declaration.
- Ask what the fee includes and what you pay separately.
- Have a lawyer review the status certificate and check the CAO's Condo Registry.
Frequently asked questions
What is the average condo fee in Ontario?
Averages vary by city, building age, amenities and year, so no single figure is dependable. A corporation creates a budget for every fiscal year. Compare the actual budgets of the buildings you are considering instead.
Are condo fees charged per square foot?
Not necessarily. The declaration sets each unit's percentage share of the common expenses, and that percentage may vary with unit size. Your fee is generally the annual budget multiplied by that percentage.
Can condo fees go up after I buy?
Yes. The corporation prepares a budget for every fiscal year, and it can charge a special assessment if there are large shortfalls. A status certificate shows increases and special assessments, with reasons. A corporation may be unable to collect an increase that was not properly disclosed.
How do I get a building's real fee information?
Request the status certificate. The corporation may charge no more than $100 and must provide it within 10 days. It includes the budget, financial statements and reserve fund study.
Sources
- Condominium Authority of Ontario – Status Certificates — condoauthorityontario.ca
- Condominium Authority of Ontario – Pre-construction Condos — condoauthorityontario.ca
- Condominium Authority of Ontario – Common Expenses — condoauthorityontario.ca
- Condominium Authority of Ontario – Special Assessments — condoauthorityontario.ca
- Condominium Authority of Ontario – The Declaration — condoauthorityontario.ca
- Condominium Authority of Ontario – Fees and Finances — condoauthorityontario.ca
Links go to official government, court and regulator pages. The law changes — confirm you are reading the current version.
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