grey
Senior Member
I still think it's unwise for consumers to use the first year maintenance fees to assess affordability, because it's all up to the condo board after the building registers. I've experienced fees rising by 20% in only the second year after registration, and as I recall, that was considered very good when compared to most recent condos.
In my building's case, the reserve fund left by the developer was within requirements, but the accountant advised that we increase it to a more reasonable level (in order to cover things like the boiler, etc.).
In my building's case, the reserve fund left by the developer was within requirements, but the accountant advised that we increase it to a more reasonable level (in order to cover things like the boiler, etc.).