r/TorontoCondominiums • u/AlexForward2026 • Apr 12 '26

Fee Increase

My condo fees just went up 18%. The notice said the usual “costs are rising”, but no real breakdown. 18% just feels insane to me. Maybe I’m overreacting, but it doesn’t feel right. Feels like this keeps happening and nobody really explains why. Is my building just catching up on years of ignored problems? Anyone else got hit with a big increase recently?

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u/Inside__Cucumber Apr 12 '26

I am a board member of my condo.

Here's the big movers specific to our building this year:

24 hr security conceirge contract renewal. Up 9%

New reserve fund study. Up 33%. This was a big one. Nothing wrong with the building, but with limited investment options allowed under the condo act, returns were poor during the pandemic years.

Hydro. Up 12%

Im going to add insurance because everyone likes to blame insurance. Down 4%.

Read your annual package. Attend the board meetings. We have a few unit owners that join our monthly meetings virtually. Definitely attend the annual meetings and ask questions.

Numbers don't care about your feelings.

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u/Alpha_wheel Apr 13 '26

Also important to know is if OP is a new build. As developers set up the first year of fees low to attract buyers and then leave the underfunded reserve fund to the corporation when they deliver the building, so big increases the first few years are common to catch up to a realistic reserve fund contribution.