Receiving a notice about a jump in condo fees is never fun—much like opening a hefty power bill after a harsh winter. And yet, these fees are an integral part of owning a condo unit.
The good news is that there are many ways to better understand and handle the situation.
Why Do Fees Rise?
Condos fees pay for common area maintenance, insurance, building management, caretaker services, contingency fund contributions, etc. Every co-owner holds a share of the building, which appears as a percentage in the Declaration of Co-Ownership (a notarized document that officially establishes the divided co-ownership). The larger the unit, the higher the fees the co-owner will pay.
Fees usually go up for three reasons:
- To adjust to inflation.
- The costs for services and materials have soared: electricity, building insurance, snow removal, repairs—expenses continue to rise!
- A larger contingency fund is now required to cover the cost of major repairs, such as replacing the roof, fixing the elevators, or repaving the parking lot.
As per the Regulation establishing various rules concerning divided co-ownership in effect since August 14, 2025, this fund must provide for the condo building’s current and future needs, according to the recommendations stated in the contingency fund study. In other words, the amounts paid into this fund are no longer based on vague or arbitrary estimates but rather on specific data and projections made by a qualified professional.
It’s essential that every co-owner pay their fees. Otherwise, the syndicate of co-owners could take legal action to collect the unpaid amount, plus interest.
A Sign of Sound Management
No one likes paying more, but higher condo fees aren’t necessarily a bad thing.
A syndicate willing to adjust fees as needed is a syndicate that takes the building’s financial stability seriously. This protects the co-owners by reducing the risk of being hit with an unexpected special contribution. It’s a little like regular dentist visits: nobody enjoys going to the dentist, but it avoids unpleasant surprises down the road.
What Can You Do as a Co-Owner?
The first step is to make sure you fully understand the fee increase notice. The syndicate of co-owners (or the company managing the building) must explain the reasons for the rise. Reading the documents, asking questions, and attending general meetings are essential. This allows you to get a better sense of what drove the decisions and of future projects.
The next step is to adjust your personal budget. Even a $30 or $50 increase per month can quickly add up over a year. Including a buffer in your financial planning will ensure you have the flexibility to absorb higher fees.
Ideas to Reduce Costs
A syndicate of co-owners only works because the residents actively participate.
If you think an expense could be optimized, you can suggest ideas at meetings.
Some syndicates are exploring innovative solutions:
- Bundling contracts (e.g.: hiring the same contractor for building cleaning and outdoor maintenance).
- Investing in energy efficient systems.
- Asking co-owners to pitch in by shovelling footpaths or sidewalks instead of paying a company; taking on light gardening chores (planting flowers, watering, occasional lawn mowing); carrying out minor maintenance like painting or small repairs in the common areas (if any of the co-owners are good at DIY home projects).
- Regularly soliciting new bids from condominium insurers.
- Requesting quotes from several companies for every service contract.
- Temporarily renting out unused parking spaces or storage units (to other residents in the neighbourhood, for instance).
- Organizing seasonal co-owners’ cleanups to tidy up the outdoors spaces in the spring, clean reachable windows, plant out and weed the flowerbeds.
A little creativity can go a long way in reducing the financial pressure all while maintaining the residents’ quality of life.
Think of It as an Investment
Every dollar allocated to condo fees helps preserve your property’s value. A well maintained, and financially sound, building will attract more buyers.
Future buyers don’t just pay attention to condo fee amounts, but also to how well the building is managed. Reasonable and justified fees can be a compelling selling point. Most people would rather acquire a unit in a properly managed condo building with slightly higher fees than a building suffering from chronic underfunding.
In a word, rising condo fees aren’t the end of the world—even if unwelcome! A condo building isn’t only a place to live; it’s a community project. Every resident’s contribution helps sustain this project and ensures the building remains strong, safe, and welcoming for years to come.