Frequently Asked Questions

Common condominium fees and what do fees cover

You have several methods to pay your condominium fees including:

  • Cash – Come in to our office and pay your fees in person.
    [Note: Please pay in exact change as we do not have a till in our office. Any extra payment will carry over as a credit].
  • Cheque or Money Order – Please make out your cheque to your Condominium Corporation.
    [Note: Can be dropped off at our office or mailed in.]
  • Preauthorized Payment (PAP) – Monthly fees will be automatically debited from your bank account on the first day of the month.
    [Note: In order to debit your account, a Pre-Authorised Payment Form (PAP) must be completed, while providing banking details for the account number and transit number.]

Must fill out a PAP Form and provide a void cheque or a bank form indicating your account number and transit number.

Condominium fees are paid monthly and are based on the Corporation’s annual budget for shared common expenses. A condominium fee (common expenses) consists of several components. These expenses vary widely depending on the building and amenities available like pools, fitness facilities, concierge services and exterior features, etc.:

  • an amount for the operation of the condominium
  • contributions to reserve funds which is money set aside to fund major repairs and replacement of property components and systems that deteriorate over time, and
  • an amount to pay for a portion of facilities shared with other condo corporations (like a parking garage or recreation centre), if applicable.

The corporation’s declaration states the portion each owner must contribute to the budget. This portion is expressed as a percentage and may vary often by the size of the units.

The annual budget is typically developed by management in consultation with the Board of Directors. The Board reviews the budget in detail, makes adjustments and approves it.