I heard a rumour that our maintenance fees will be going up in December. Does anybody have any more information? I am curious how the Times Group management will attempt to justify the increase.
I have no clue if they will or not, but they probably will. It happens with every condo. Developers set an unrealistic first year budget, and then condo corps spend the first couple years increasing the maintenance fees until they are realistic. After that, they just rise with inflation.
Developers do this so they can market their projects competitively and quote the maintenance fee amount in advertising.