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Cody Battershill

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Calgary Condo Guide: Condo Fees

Calgary Condo Guide to Condo Feescalgary condo guide buying selling resale condominiums in Calgary

When you buy a condo in Calgary, you don’t only own the physical living space that you purchased, but you also own a share of ownership in the condo corporation.

That corporation needs revenue to pay for day-to-day operations such as cleaning of common property, snow removal, landscaping and everything in between.

Items included in most Calgary condo fees:Your Calgary condo guide to Calgary condos

  • Heat and water for the condo units as most buildings have centralized heat and water systems
  • Heat and electricity for the common area and operation of the common property throughout
  • Management company fees for the overall management of the corporation
  • Landscaping & snow clearing for any greenery, sidewalks or driveways
  • Exterior maintenance and cleaning for the overall building
  • Caretakers and live in managers as required
  • Security personnel as required

Less common items included in Calgary condo fees:

  • Electricity
  • Cable and internet
  • Full time or part time concierge

Why are Condo Fees Important?victoria park condos for sale calgary the guardian east west towers

Without condo fees, the condominium corporation wouldn’t be able to operate; you would have a condo unit in a dark, cold, vacant building simply put. Another reason condo fees are important is that the elevators, roof, structure and every other component will one day have to be replaced.

When that time comes you want to have enough money in your condo corporation’s reserve fund to cover those expenses, otherwise it may result in a special assessment where the owners pay to cover the difference. This can sometimes happen with little warning and can be a large figure which isn’t affordable for many owners.

I have heard of special assessments ranging from $500 all the way up to $100,000 per condo! Your condos value is intrinsically tied to the health and overall operation of the condominium corporation!!

Funding the Operation…Calgary Home Condo Realtor Calgary

It is important to take interest in your condo, pay your condo fees, encourage other owners to treat the condo with respect. I is also really important to make everyone accountable for their actions in the condo building whether owner or tenant as you fund the operation of the building.

What do I mean by accountable?

If you have one or more less respectful owners or tenants, it can end up costing the corporation and hence the owners more money unnecessarily for clean up, repair and maintenance that would not have been necessary otherwise.

Questions about Condo Fees in Calgary? calgary remax real estate agent cody battershill get the best advice

Don’t settle for anything less than the best from your real estate agent! As a highly experienced condo specialist and REALTOR®, I guarantee to provide you with the best service, advice and expertise the industry has to offer while taking care of all your real estate needs.

Call me anytime at 403-370-4180 or message me below for a quick response. I am looking forward to helping you accomplish your real estate plans!Satisfaction Guaranteed Remax Calgary

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