[drpgq]

Thanks for that analysis. I live in a big 2 bedroom apartment near St. Joe's that's just under $1000 a month now. Part of that is the ridiculous property taxes for residential buildings. From my perspective I can't see the property owner paying $400 a month for the equivalent to that condo (pretty much everything on the list except the bicycle program is included). Obviously new versus old building, but $400 just seemed crazy to me, especially since I know someone who bought in there.

Originally Posted by Duckyboy

I work in Condo mgnt and that seems like a lot for a brand new building unless there are load of extra amenities. Here's what they have listed on their site as included in the common fees:

• Snow removal for sidewalks and entrances to building and parking areas
• Private garbage removal
• Building fire alarm system complete with 24 hr monitoring
• Fully maintained common areas and rooftop terrace
• Elevator access to all floors
• SHARED BICYCLE PROGRAM FOR SUITE OWNER

These items, as well as the following common items that are included as covered by fees.

• insurance
• management fees
• audits
• common repairs
• reserve fund allocation (should be VERY small for the next little while... depends what the fund study has to say, once performed.)
• common utilities

This not an exhaustive list; it's just an average.

But like I said, $400 for a brand new building seems high, but for some reason, Hamilton area common fees seem higher than others in Burlington, Oakville and even some in Dundas (IMO).

I have a few new buildings that I do the accounting for, and their fees range from $150-200 (30-40 units each; 2-3yrs old each).

I dunno... just seems high...