Maintenance fees could cut condo values
The value of condos could be damaged by rising maintenance fees. Research by condos.ca shows that the rise in fees in some areas has been above inflation for last decade, rising in Toronto for example by 3.4 per cent. That means that the fees are taking a bigger chunk of household income. While it’s clearly important that buildings and services are well maintained over-inflated fees will have an impact on resale values and CEO of condos.ca Carl Langschmidt advises that owners hold their condo management to account.