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A condo sits inside a corporation that already handles the roof, the lobby and the mechanicals. What is left is your unit, and that is what the management fee covers.
What the corporation does
The corporation maintains the building envelope, common areas and shared mechanicals. Those are funded by the monthly contribution the owner already pays, and they never appear on a management statement.
What remains inside the unit is yours: appliances, fixtures, interior finishes and anything the declaration assigns to the owner. That is a much shorter list than a freehold, which is why maintenance coordination is lighter here.
It is also why condos commonly sit at the lower end of the published range. The percentage pays for coordination load, and a building that maintains its own roof generates far fewer work orders.
Taking on a condo
Declaration and rules checked for restrictions on leasing, pets, parking and minimum term.
Tenant details filed with the corporation where its rules require it, before move-in.
Fobs, parking and locker assignments recorded against the unit and returned at move-out.
Rent, maintenance and statements run as they do on any other unit from that point.
What owners miss
Many corporations restrict leasing: a minimum term, a cap on rented units, or registration of the tenant before move-in. Finding that out after a lease is signed is an expensive way to learn it.
Short-term letting is commonly prohibited outright. If that is the plan, the rules decide it before the market does, and the short-term page sets out where it is workable.
Special assessments are the other surprise. They fall on the owner, not the tenant, and they do not pause because a unit is rented. They appear on the owner statement alongside everything else, and portfolio owners should budget for them.
Other property types
The fee follows the coordination load, not the rent.
Condos, answered
The questions that come up before the first tenancy.
They deal with the condo board and the corporation rules on my behalf. The one bylaw complaint was handled before I knew about it.
Unit-by-unit management for my two condos, each on its own statement. Rent arrives the same day for both.
They knew the building's move-in rules and elevator booking process, so the tenant's move happened without a fine.
When the corporation raised the maintenance fee, they adjusted the rent estimate at renewal with the numbers attached.
From the blog
Condo Management
Special assessments are the condo owner's unexpected bill. Learn what triggers them, who pays, and how to prepare for the cost.
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Condo Management
Your condo declaration is a binding legal document that restricts what you can do with your unit. Brampton condo boards enforce rental bans, pet policies, and renovation rules.
Read articleCondo owners
The rules are read before the unit is listed, and the quote reflects the lighter coordination load a condo actually carries.
Rules read first · Lower end of the range · Typical ranges, not quotes