When condo shopping in Toronto, if you come across a beautifully kept condo with landscaped yards, flawless facade, gleaming interiors / exteriors, and renovated lobby's and they all seem to go together well – it’s all thanks to the Homeowner’s association! In other terms the Condo Board & managment company in place to manage the owners fee's. However, it all comes at a cost – Maintenance fee's pay for repairs, upkeep, structural repairs and improvements, as well as utilities, and maintenance of amenities, communal areas, elevators, and parking lot. The HOA also sets money aside for future projects and emergencies by building up a reserve fund. If you are thinking about investing in a Condo, here’s everything you should know about the HOA dues.
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