06/17/2026
Everyone’s favourite condo topic to discuss—even among the realtors and condo board members I know—is maintenance fees. Yes, maintenance fees! 😂
As someone with a background in condominium management, condo board experience, and real estate, I can tell you that maintenance fees are one of the most misunderstood aspects of condo ownership.
The reality is that maintenance fees almost always increase over time. While there may be an occasional year where fees remain stable or even decrease slightly, rising operating costs, inflation, insurance premiums, utilities, and future repair requirements generally mean fees will eventually need to increase.
Many people ask where their maintenance fees go. Depending on the size and location of the building, 24-hour concierge service is often one of the largest budget expenses. Other major costs include property management, cleaning and janitorial services, repairs and maintenance, utilities, insurance, landscaping, and contributions to the reserve fund.
At the end of the day, maintenance fees are funded by the owners. Every owner contributes their share to ensure the building is properly maintained, operated, repaired, and financially prepared for future capital projects.
While no one enjoys seeing maintenance fees increase, a well-managed building with a healthy reserve fund and a strong operating budget is often better positioned to protect and enhance property values over the long term. Deferred maintenance may keep fees lower today, but it can lead to much larger costs in the future.
My family, friends, realtor colleagues, investors, and clients are always sending me condo budgets and financial statements to review. 😂 I guess when you have a background in condo management, you become the person everyone calls when they want to know why their maintenance fees went up. 🤣
A good condo budget may not be exciting to most people—but for condo owners, it tells the story of how well their building is being managed and how prepared it is for the future. 🏢📊
Vinson Li – Real Estate Agent
647-922-9032
[email protected]
www.vinsonlihomes.com
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