Quote:
Originally Posted by WhipperSnapper
That's the usual escape goat that doesn't hold water. The largest costs by far are professional management (after market service most large developers in Toronto offer) and security "monitoring". The guards/concierge are not trained to intervene. They can only report. It really is a ridiculous cost.
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On site property manager, full time security, full time concierge, full time door man, full time manager to manage these people, assistants. People assume they need all these things, until they realize the yearly cost is half a million dollars, which assuming 200 units contributes over 200 dollars a month to condo fees.
Luckily for other markets, it seems only Toronto has the mind set of "keeping up with the jonses" regarding high end amenities offered in places like Manhattan. I haven't seen the same personnel cost swelling in Vancouver or Calgary, and the lower condo fees reflect that.