Strata Fees Is a Hot Topic For CONDO Buyers (Especially As They Increase)

Why Strata Fees Are Skyrocketing—And What You Can Do About It

Introduction
Thinking of buying a condo or townhome? Don’t just look at the price tag—those monthly strata fees are eating into affordability, and they’re rising fast. Let’s explore why, and what you can do about it.What Do Strata Fees Cover?

• Building insurance
• Repairs & maintenance (roof, elevators, plumbing)
• Common areas (gym, pool, landscaping)
• Reserve fund contributions

What’s Driving the Increases?

1. Aging Infrastructure: Roofs, elevators, and plumbing don’t last forever.
2. Insurance Hikes: Insurers are raising premiums on aging buildings.
3. Deferred Maintenance: Older buildings are catching up on years of neglect.
4. Inflation: Everything costs more—labour, materials, and services.

Average Monthly Fee Growth:

• 2020: $320/month
• 2023: $430/month

What Buyers Need to Know

• Read the Depreciation Report and Form B Package.
• Ask about Special Levies in the past 5 years.
• Check the contingency reserve fund health.

Tips to Minimize Fee Pain:

• Choose newer buildings with fewer amenities.
• Avoid buildings with indoor pools (expensive to maintain).
• Look for proactive strata councils with solid maintenance plans.

Conclusion
Strata fees are part of the real estate equation, and understanding them can save you thousands. Get informed before you commit, and you’ll buy with confidence instead of surprise.
Sincerely,
Kevin LynchRemax Crest RealtyDirect: 778-718-5686