July 2019
Condo fees are the price we pay for living a quality lifestyle which may include a home or location that might otherwise be cost prohibitive; having others handle maintenance and paying bills for most aspects of home ownership; and amenities which may include exercise space, large relaxation areas and social activities.
While most desire lower condo fees few willingly sacrifice their condo lifestyle.
Condo fees, much like taxes, exist because they work.
Income taxes, after more than 100 years, have allowed Canada to achieve many things. They allowed us to raise the funds needed to fight World War II. We have strong health care, education and social systems. Toronto has developed into a city envied by many. We have a system of government which, while far from perfect, works better than alternatives around the world. None of this would be possible without pooling our resources.
By pooling resources communities are able to build and maintain. Fees are used to pay bills, repair elevators and employ people to benefit the community.
Condo fees work in much the same way. By pooling resources communities are able to build and maintain. Fees are used to pay bills, repair elevators and employ people to benefit the community.
In a relatively short period of time, the popularity of condo living has surpassed single family homes and apartments to become the most popular form of housing in Toronto. This would not have been possible without condo fees which allow owners to share in the cost of home ownership.
