Condo maintenance fee increases have eased

The annual increase in condo maintenance fees in Toronto was lower in 2017 than the previous two years.

A study from condos.ca shows that there was an average 2.5% rise in 2017 compared to 3.99% in 2015 and 3.79% in 2016. That means condo owners paid on average an extra 64 cents per square foot last year.

An owner of an average 594 square foot one-bedroom condo apartment in Toronto would have paid $386.60; for a 956 square foot two-bedroom the cost was $628.02; and it averaged $881.20 for a three-bed 1,354 sq. ft apartment. Parking and storage lockers would be extra.

The range of fees per square foot ranged from just 22 cents to $1.35.

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