Just found out condo fees in Edmonton jumped 18% in my building last year

I was looking over my annual budget statement yesterday and noticed our condo fees went up from $350 to $413 a month. Did anyone else get hit with a surprise increase like this lately or is my building just unlucky?

2 comments

2 Comments

elizabetht561mo ago

My building only went up 12% last year but some of that was us voting for a big reserve fund study that showed we needed way more money put away for the roof and parking garage. Sometimes these jumps look insane but really they're just catching up from years where the board kept fees artificially low and now the piper has to get paid somehow.

daniel5111mo ago

Yeah, @elizabetht56 that reminds me of our old place where the board kept fees flat for like 5 years and then we all got hit with a special assessment for new windows AND a 20% hike right after. Everyone was MAD but it's like what did you expect when you let it slide that long.