06/15/2026
Why are maintenance fees so different from one condo building to another? You ask 🤔
It’s one of the most misunderstood costs in real estate.
Years ago, many Toronto condos operated around $0.50–$0.60 per square foot. Today, it’s common to see fees between $1.00–$1.25 per square foot, and luxury buildings can exceed $1.50 per square foot.
But higher doesn’t automatically mean worse.
Maintenance fees can include some or all utilities such as water, heat, and hydro. They also reflect the level of amenities, staffing, security, concierge services, reserve fund contributions, and the overall operating costs of the building.
The real question isn’t “How low are the fees?”
The real question is “How healthy is the building?”
A building with artificially low fees today may face special assessments or significant fee increases tomorrow. A well-managed building with a strong reserve fund, proactive maintenance, and responsible financial planning often protects owners better over the long term.
When I’m helping clients evaluate a condo, I’m not just looking at the unit.
I’m reviewing:
✔️ The reserve fund
✔️ Financial statements
✔️ Status certificate
✔️ Recent fee increases
✔️ Building management
✔️ Upcoming major repairs
✔️ Overall financial health
Because buying the right condo isn’t just about the purchase price—it’s about understanding the true cost of ownership.
If you’re condo shopping and want to know whether a building is financially healthy before you buy, send me the address. I’ll tell you what I’d be looking for before making an offer.
A great unit in a poorly managed building can become an expensive lesson. A great unit in a well-managed building can become a long-term asset.
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