Condo Fees – how are they calculated?
If you are thinking of buying a condominium in Alberta, understanding condo fees is key to making good decisions. When you write an offer “pending the review of condo documents”, you will receive hundreds of pages of information. Knowing what makes up the condo fees will help you determine if the condo you are considering is a good buy or not. Lets start from the basics. How are condo fees calculated?
Condo Fees Explained
Every month condo owners pay a fee to the condo corporation to cover their share of the “COMMON EXPENSES”, also known as shared expenses. COMMON EXPENSES are expenses for the operation of the condominium complex and include things like maintenance, snow removal, parking lot paving, lawn…