Cost- Condo fees have risen in many buildings through 2026, partly reflecting corporations catching up on reserve funds that hadn't kept pace with rising repair and construction costs.
- This connects directly to the special assessment risk covered in our situations guide — a well-funded reserve reduces the likelihood of a future special assessment, but often at the cost of higher current condo fees.
- Older buildings with major systems approaching end-of-life are generally seeing the largest fee increases.
Why condo fees are rising in many buildings
Reserve fund studies in many buildings have revealed a gap between what's been saved and what future major repairs (roofs, elevators, building envelopes) will actually cost, given the same repair-cost inflation affecting home insurance and construction generally. Many condo corporations are responding by raising monthly fees to build up the reserve proactively, rather than waiting to hit a shortfall that would require a special assessment.
The fee-versus-assessment trade-off
There's a real trade-off at play: higher ongoing condo fees reduce the risk of the kind of sudden, large special assessment covered in our special assessments guide, but they also mean a higher predictable monthly cost. Neither is necessarily "better" in the abstract — a buyer might genuinely prefer predictable higher fees over the risk of an unpredictable lump-sum bill, or vice versa.
What to check before buying a specific condo
Review the reserve fund study and recent fee trend, not just the current fee amount — see our status certificate guide for the specifics. A building with a well-funded reserve and steadily rising fees may actually be a safer buy than one with artificially low fees and an underfunded reserve, despite the lower fee looking more attractive at first glance.
Budget realistically for condo fees in your monthly housing cost.
- Statistics Canada — accessed September 2026