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Home COFSAB Forum Finances Condo Fees Rising Reply To: Condo Fees Rising

  • Terry

    Member
    March 15, 2022 at 7:56 am

    I know the writer was not happy about the fee increases, but frankly, one of the most significant issues we see in COF is that boards are under-budgeted and underfunded, because they want to keep condo contributions low..

    The board is responsible for operating the complex, and if they are doing their job, they will ensure the condo is well funded.

    Condos are facing increases in many parts of their operations. Insurance costs are increasing for many reasons, including global warming/climate change leading to significant losses for the insurance industry worldwide and estimated replacement costs rising.

    In addition, you can expect utility cost increases to impact many apartment-style condos in the next future.