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The Secret Truth about Lowering Condo Fees

Author: 
Toronto Condo News
Publication date:
July 24, 2020
Article Summary: 

This article discusses the misconception that reducing condo fees is a viable option, as most expenses are determined by the market and cannot be controlled by the board. It warns against reducing reserve fund contributions to lower fees, as this neglects current obligations and can lead to special assessments or fee increases in the future. The reserve fund's sole purpose is to maintain what currently exists, and neglecting this obligation is irresponsible.

Keywords: 

Condo fees, reserve fund, market expenses, board, special assessments, fee increases, obligations.



Source Citation: 
Toronto Condo News
The Secret Truth about Lowering Condo Fees
July 24, 2020
https://tocondonews.com/archives/the-secret-truth-about-lowering-condo-fees/
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