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How To Raise Condo Fees

Author: 
Toronto Condo News
Publication date:
January 24, 2022
Article Summary: 

The blog discusses the importance of open communication and transparency when increasing condo fees. Condo fees increase due to various reasons, such as rising expenses, frequent repairs, local law changes, and insurance costs. It is necessary to inform and explain to the owners why the increase is required, and not raising fees may lead to long-term and more expensive problems. Boards should opt for consistent annual increases rather than deferring them, which may lead to greater increases in the following years.

Keywords: 

condo fees, maintenance, communication, transparency, expenses, repairs, local laws, insurance costs, reserve fund, operational costs, financial surplus.

Source Citation: 
Toronto Condo News
How To Raise Condo Fees
January 24, 2022
https://tocondonews.com/archives/how-to-raise-condo-fees/
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