Condo Maintenance Fees

Each month, condos owner pay a maintenance fee. This maintenance fee is a combination of all the costs to run and upkeep the condo split up between the condo owners. Cutting down on services and amenities offered to the residents helps to keep the maintenance fees down. With more and more people becoming cost conscious, we have seen a change in the concierge services that are being offered in condos.

Many condo buildings in Toronto offer the full time concierge services and there are a few reasons why condo owners would want full time concierge service. There are still home owners who like the convenience and prestige of having a concierge and amenities in their condo and are willing to pay for it. In addition, single women have been driving condo market sales in the past year or so. Having a security system along with a security guard/ concierge are important to the safety of these female buyers.

On the other hand, many buyers and residents are looking to keep their costs low and will sacrifice these luxuries. Many condo buildings are becoming more automated with only a security system to fit the need of these types of owners.

In recent years we have seen a sort of hybrid of services that are offered where the traditional term of concierge is changing. For examples, the REVE condo in Toronto offers the concierge services you would get in a traditional condo but with a twist. The concierge is a virtual concierge meaning the concierge is live person on a TV screen. This person is located in another location and is acting as the concierge for multiple buildings at the same time. This is a great way to keep the personal touch but also keep the costs at a minimum.

For more information or if you’d like to speak with me regarding this topic, contact me:

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