Condo maintenance fees in Toronto — formally called common expenses — are the monthly charges every unit owner pays to keep the building running. They're set by the condo corporation's board and are based on each unit's proportionate share of the building's total costs.
The fees cover a few broad categories. The largest portion typically goes to building operations: property management, cleaning, landscaping, security, elevator maintenance, and general repairs to common areas. A significant chunk also goes toward the building's insurance policy, which covers the structure and shared spaces (not your unit's contents — that's your own insurance). Every condo corporation is also required to contribute a portion of fees to the reserve fund, which pays for major future repairs like roof replacements, garage resurfacing, and window systems.
Some buildings include certain utilities in the monthly fee — water and heating are common, and older buildings sometimes bundle hydro as well. Others meter utilities individually, so the same fee amount can mean very different things depending on the building. Amenities also factor in. A building with a pool, gym, concierge, and party room will carry higher operating costs than one with a simple lobby and elevator.
In Toronto, a rough guide by building age: newer buildings (under five years old) tend to run $0.65 to $0.75 per square foot. Mid-age buildings (five to fifteen years) usually fall between $0.75 and $0.85 per square foot. Older buildings (fifteen-plus years) often range from $0.85 to $0.95 or higher per square foot. These are general ranges — specific buildings can fall outside them depending on amenities, included utilities, and how well the building has been managed.
It's worth noting that a low fee isn't always a good sign. If the corporation is underfunding its reserve or deferring maintenance, today's low fee can become tomorrow's special assessment. What matters more than the dollar amount is what the fee covers and whether the building's finances are healthy.
