Toronto Condos With Low Maintenance Fees  

by Pool Builders on 11-14-2012 in Articles

Buying a condo basically means buying into a low maintenance way of living. Toronto condos can be an affordable and stress free way to live as every month the condos owner pays a maintenance fee to cover certain common costs of the building. While having a very low maintenance fee is ideal. There are other things to consider that what is included in the monthly maintenance costs and the financial strength of the condos building corporation.

Maintenance charges or fees are paid to the condos corporation every month for cover basic expenses of Toronto condos building such as security guards fees, ground maintenance, pool maintenance etc. Maintenance charges are basically based on the size of the condos. The person who owns the bigger condos can pay the higher amount in to the common expenses of the building. The person who had smaller size condos can pay less maintenance costs as compare to the bigger condos owner. Every year the corporation increases the maintenance fees, as texture of the building begin to crack out and need to be replaced and service contracts increase. That is why the older condos building having the higher monthly maintenance charges as compare to the newer build condos. In addition, the more facilities a condo building offers to its residents, such as a swimming pool, gym also contributes to a higher monthly maintenance fee.

Many times the buyer clients ask for new development condos Toronto with less maintenance fees. You have to ask yourself few questions that what expenses do the monthly charges include? Does it include heat, water, hydro, central air, swimming pool maintenance or building insurance? Every condo is different so make sure to find out that exactly what is included in the monthly maintenance charges. Some condos can offer a low maintenance fee but the utilities are not included. But other condos may have higher monthly maintenance charges and you don't have to worry about the extra added utility bills.

Another thing to look out of the financial condition of the condo building. Check with the property management to see if the charges have been increased lately or if there is an increase in fees scheduled for the near future. Special maintenance is also important to take into the account. Large repairs such as replacing the roof are heavy charges maintenance. Depending on the situation of the Toronto condos corporation, they may choose to bill each condos owner their portion of the cost of the repair. The owner may be required to pay the lump sum amount of the repair in the monthly maintenance charges for a certain period of time. This cost is an extra addition to the monthly maintenance fee.

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