In suite Hydro billed directly to you based on the usage recorded by you individual hydro meter. Items include electricity for lights, plugs, appliances, exhaust fans and air conditioning and air exchanger. Gas used in your suite, recorded by your individual gas meter. Homeowners insurance on your contents and any upgrades Individual Suite property taxes [...]
In most instances, you own everything inside your condo suite, including the half-thickness of the walls which separate you from neighbouring suite owners. In addition, you own a proportionate and prorated share of all common elements and the land on which the condo complex is built.
You are bound by the rules and regulations, contained in the condo’s Declaration and by-laws. These by-laws tend to have restrictions, allowing pets or otherwise, not allowing a commercial business to operate from your suite. The overall decision-making process of the condo complex is made by the majority of the suite owners and executed by [...]
Increases can happen at any time and for a number of reasons, like an unexpected major repair, or just to keep up with rising costs. It is expected that they would rise with inflation Any increases would be approved by the condo board which is made up of owners, when the annual budget is set [...]
Each owner will pay to the Condominium Corporation his/her proportionate share of the following common expense for the building: Domestic hot and cold water for the common building area. Common Area Utilities (including heat, hydro, air conditioning, water and gas, if applicable) Common Area base building and your suite insurance (owners will need to procure [...]
The maintenance fees are depended on the size of the suite. It is estimated at 32 cents per square foot. As a condo owner you are required to pay mandatory monthly maintenance fees. These fees are separate from your monthly mortgage payments. Maintenance fees go toward paying for the overall upkeep of the common areas [...]