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Generally, condo fees (also known as strata fees) will partially cover your utilities, contribute to your reserve fund and pay for maintenance of common areas in the building. Before you finalize your purchase, you should get your realtor and real estate lawyer to find out exactly what is and is not covered in your fees, so you are not surprised by any unexpected bills as a new condo owner.
Condo fees or maintenance fee in a condominium apartment building can cover heat, hydro, water, cable, common elements, window cleaning, pest control, landscaping, exercise, gym, pool, tennis, squash, billiards, concierge etc. Approximately 35 to 45 per cent of condo fees cover utilities such as gas,
“If we have to pay an extra half-cent to do this I think we should be more than willing.” But Enterprise resident Sandra Walters, a long-time environmental advocate who battled to prevent condos on.
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While condos have many of the same fees as homes, such as insurance, taxes and utilities, owners must also pay hundreds of dollars in monthly condo fees, top of what changes, including fees increases, may be on the horizon.. Does it make more financial sense to own a condo or rent an apartment?
Also, any services such as snow removal, cleaning, garbage services and repairs to any of the buildings elements will be paid for with condo fees. Utilities. The most common utilities covered by condo fees are water and heat, although this does vary from building-to-building.
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But what is a condo maintenance fee and what does it cover?. have their utilities separately metered, so these are not included in the fee; but.
Condo Maintenance Fees What Do Condo Fees Include? When purchasing a condo, you will have to pay a mandatory, non-negotiable monthly fee that covers a wide range of expenses. Generally, condo fees (also known as strata fees) will partially cover your utilities, contribute to your reserve fund and pay for maintenance of common areas in the building.