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View Poll Results: 2020 condo fee increases compared to 2019?

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  • 2020 fees lower than 2019

    0 0%
  • No change

    10 19.61%
  • 0-1%

    0 0%
  • 1-2%

    2 3.92%
  • 2-3%

    5 9.80%
  • 3-4%

    7 13.73%
  • 4-5%

    3 5.88%
  • 5-6%

    2 3.92%
  • 6% or higher

    22 43.14%
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Thread: 2020 Condo Fees

  1. #41
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    Seems like newer-ish builds getting hit hard. Probably during the building boom from early 2000's when they were slapping condos together. The older buildings are still plugging along (1960-1980's).
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    Quote Originally Posted by msommers View Post
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    Seems like newer-ish builds getting hit hard. Probably during the building boom from early 2000's when they were slapping condos together. The older buildings are still plugging along (1960-1980's).
    Nah, the older buildings were shit too, but they've been repaired already. What was the name of the Olympic athletes housing on signal hill?
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  3. #43
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    Quote Originally Posted by msommers View Post
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    Seems like newer-ish builds getting hit hard. Probably during the building boom from early 2000's when they were slapping condos together. The older buildings are still plugging along (1960-1980's).
    Nah, they have problem too, especially those concrete towers with elevators. Elevators will eventually need major repairs. Then there's security and parking cost.

    https://www.reddit.com/r/Calgary/com..._east_village/

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    Quote Originally Posted by Xtrema View Post
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    Nah, they have problem too, especially those concrete towers with elevators. Elevators will eventually need major repairs. Then there's security and parking cost.

    https://www.reddit.com/r/Calgary/com..._east_village/
    That link says the 100k special assessment was split among 186 units .... so 500ish a piece. Which really is nothing in the grand scheme of things.
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    My 2013 build date townhome in Coventry is currently looking at a estimated $3k/unit special assessment due to water entering in the smaller units balconies. Unfortunately doesn’t seem like it affects my style of unit as I only have a small deck and no balconies but everyone gets to pay. Likely going to sell and gtfo as soon as it’s over with.

  6. #46
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    Quote Originally Posted by Twin_Cam_Turbo View Post
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    My 2013 build date townhome in Coventry is currently looking at a estimated $3k/unit special assessment due to water entering in the smaller units balconies. Unfortunately doesn’t seem like it affects my style of unit as I only have a small deck and no balconies but everyone gets to pay. Likely going to sell and gtfo as soon as it’s over with.
    Haha sounds like you bought this townhome without realizing how a condo association works.

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    Quote Originally Posted by mzdspd View Post
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    Haha sounds like you bought this townhome without realizing how a condo association works.
    I was fully aware how it works. It was a starter home that turned into a rental. I actually spent two years on the condo board when it was first built until I moved out, but now I don’t need the liability down the road and would rather put the equity from selling it elsewhere.

  8. #48
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    My friend owns a unit in the Panorama Hills condos that were in the news earlier this year. He has one of the larger units and his bill was $29k. I believe it was due to building envelop and water ingress at the balconies.

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    Quote Originally Posted by realazy View Post
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    My friend owns a unit in the Panorama Hills condos that were in the news earlier this year. He has one of the larger units and his bill was $29k. I believe it was due to building envelop and water ingress at the balconies.
    Same. Have friends there as well. Shitty situation.
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    Quote Originally Posted by pheoxs View Post
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    That seems crazy. How the heck can you spend 100k per unit to redo an exterior?
    Large upscale complex with fancy brick (row/town home style $700-800k each per unit purchase price at the time). That might also include other work related to re-doing the exterior, those details I don't know - I was just told the total cost by a realtor.

    To my knowledge, special assessments don't actually have to be paid at all, and they can't force you to pay until you sell your unit, at which time the lawyers will deduct it from the sale price. If too many people do that, the building needs to get a loan to cover the unpaid amounts and interest will accrue. That's how it was explained to me in the condo I used to live in. I only had a ~$15K assessment coming down the pipes, but I got out before anything was finalized or published. The work that eventually got done ended up being a bit cheaper as well from what I've heard, but it would have still sucked.
    Last edited by Mitsu3000gt; 12-10-2019 at 05:09 PM.

  11. #51
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    Quote Originally Posted by Xtrema View Post
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    Nah, they have problem too, especially those concrete towers with elevators. Elevators will eventually need major repairs. Then there's security and parking cost.

    https://www.reddit.com/r/Calgary/com..._east_village/
    $510/unit (probably varied slightly based on square footage) is nothing for a SA. We did $650 one year at my old condo just to pad the reserve - at Christmas, which nobody appreciated, but the amount was pretty insignificant for most people I would think.

    I think when SA's get up into the $5K+ range is when it can start to be crippling for some people, and obviously it can go up from there.
    Last edited by Mitsu3000gt; 12-10-2019 at 05:10 PM.

  12. #52
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    Quote Originally Posted by realazy View Post
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    My friend owns a unit in the Panorama Hills condos that were in the news earlier this year. He has one of the larger units and his bill was $29k. I believe it was due to building envelop and water ingress at the balconies.
    I watched a new condo unit coming up on 4th St and 11th Ave. Unless they get the sloping right, the way the balcony is being enveloped by external fascia, it's ticking time bomb.

  13. #53
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    A more interesting question for me is: what is your condo fee/sq ft and what features are included?
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  14. #54
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    $0.27/sqft. Excluding basement.

    1150 sqft Townhouse, single attached garage, single car driveway, patio. No utilities. Equal unit factor regardless of size. 100 units.


    Open to discussing budgets if they're are any board members of similar style developments
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    Im the one with a learning disability....

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    $0.67/sqft. 4 storey, 12 unit building. No elevator. Has underground parking, large patio, radiant heat. Will most likely be going up shortly.

    Also open to discussing budget for similar buildings.

  16. #56
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    I just sold my condo but it was 0.45 $ / sqft. I was a member on the board for 2 years.

    Four-storey, elevator, 120 units in the complex area (4 buildings). underground parking and wood construction (built 2003).

    The condo fees covered everything; gas (each unit had its own furnance), water, electricity, and insurance.

  17. #57
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    Condo I used to have was around $0.55/SQ FT. 1,010 sq ft, 2bdrm, 2bath + den. Heated underground parking. 6-storey, 48 unit concrete building (built 2000). Heat (building boiler), water, and natural gas (stove & BBQ lines) included. Electricity was my responsibility (~$45/mo).

    Flooded multiple times and a big ol' special assessment was headed my way - so happy to have sold when I did. Literally the day after I moved out, trades working on the building stole people's keys from the contractor lockbox and went on a theft/damage rampage in the parkade. I will never do the condo thing again, but it was OK in my 20's.

  18. #58
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    How many of you condo owners have special assessment insurance?
    ---

  19. #59
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    Mine is around $0.44/sqft. (around 700sq/$308 a month, fee was $276 earlier this year)

    Four floors. Elevator. Wood construction, heated underground parking (built 2015). Its part of a six building complex. Cant remember how many units. Will have to check when I get home.
    Condo fees cover everything except electricity and internet.

    How many of you condo owners have special assessment insurance?
    I have it in mine. Deductible is $1000. But I just had a special assessment and the fee is $1200. Meh, i'l just pay outa pocket.
    Last edited by tonytiger55; 12-11-2019 at 04:44 PM. Reason: Answered Kenny's question

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    Quote Originally Posted by pheoxs View Post
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    That seems crazy. How the heck can you spend 100k per unit to redo an exterior?
    I live very close to this, and even I never heard the final number. Despite a family friend doing some of the re-work. I had a feeling anywhere from $100-250K was going to happen. Hence a few people that panicked and listed SUPER low expecting the 8 ball coming.

    But yah most units were $1MM+, they had to have all exterior load stripped down to boarding. Then had to lift up structural beams in all the garages, re-enforce with more loading, re-do all the garage damage, and then after come repair any damages occurred to outside, re-install all the trim/brick etc. Crazy job with a ton of work. It took a long time to do as well.

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