You asked: What is the average condo fee in Toronto?

How much are condo fees in Ontario?

Condo fees average $0.58 per square foot.

What are maintenance fees in Toronto?

ft. For example, the monthly maintenance fee for most Toronto condo apartments is generally in the range of $0.60 to $0.75 per sq. ft.; thus, for a 600-square foot condo, maintenance fees could range from $360 to $450 per month.

How much can condo fees increase in Ontario?

The current law allows such “without notice” changes under certain circumstances, such as if the estimated cost in any given month is not more than $1,000 or 1% of the annual budget, whichever is higher. However, some boards have been able to manipulate this limit at the owners’ expense.

Are condo fees negotiable?

Condo fees are a must-pay and their prices are non-negotiable.

How much is property tax on a condo in Toronto?

The residential property tax in Toronto stands close to 0.66 percent, according to the Bob Aaron firm. The taxes are based on the assessed value of a home. You can find out more by undertaking a property assessment. The more desirable areas of the city of Toronto can have a large difference in terms of property taxes.

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Are condo fees included in rent?

As the owner of the condo unit, condo fees are technically the landlord’s responsibility. … A landlord can also set the rent at a price that leaves space for average condo fees so they can be covered inclusively through the tenant’s total rent.

How much are monthly condo fees in Toronto?

You’ll need to consider whether the amenities are worth the fees. According to condocontrolcentral.com, average condo fees in Toronto in 2021 are $520/month. That’s a big number when you consider it’s the cherry on top of your mortgage payments, insurance, and other utility bills.

Are condo prices going down in Toronto?

Greater Toronto Condo Apartment Prices Fell $3,200 Last Month. Greater Toronto condo apartment slipped a little lower. TRREB reported the benchmark condo apartment price fell to $639,400 in July, down 0.5% ($3,200). Compared to last year, the price of a condo apartment is 8.1% ($48,129) higher.

How much is hydro monthly in Toronto condo?

Utility Allowance

Unit Size Hydro Hot Water
1 bedroom apartment $34 $19
2 bedroom apartment $49 $26
3 bedroom apartment $57 $32
4 bedroom apartment $61 $40