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Amenities That Impact Condo Maintenance Fees

Amenities That Impact Condo Maintenance Fees

Mar 1, 2015
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Ever wondered which amenities have the greatest impact on condo fees? We've conducted the most comprehensive fee study to date in Toronto to reveal the facts. Here's a quick look at some of the most popular condo amenities and how they impact your monthly maintenance fees.

You can check out the full Toronto condo maintenance fee study and if you're not a member of Condos.ca (are you crazy?!), you can sign-up for free and gain access to maintenance fee trends for every condo building in Toronto. But in this blog post we've put together a quick look at the condo amenities that drive up maintenance fees and which have little to no impact on your monthly fees. Everyone loves condo amenities. A pool! A rooftop deck! But which ones really pinch your wallet?

Condo Maintenance Fees By Amenity - What Our Studies Revealed

Now, we’ll preface this by saying that you have to take data by individual amenity with a grain of salt–buildings rarely have just one amenity in isolation. For example, if you have a pool, you’re likely to have a gym and so it’s the compound effect of those combined amenities that has the greatest impact on your fees. But by isolating individual amenities and comparing against buildings without those amenities, we get a sense of which ones (and it’s likely a combination of those top offenders in full-service buildings) cost you more to maintain.

For some of you, the extra costs are well worth it for the lifestyle and peace of mind. For others, it may give pause for thought and make you consider a more paired-down condo building. Here’s what we found.

Pools

Merchandise Pool

Merchandise Pool

Our study found that pools have a small impact on the overall condo maintenance fees.

Average 2014 Maintenance Fees in Buildings with Pools: $0.58 / sq. ft.

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Average 2014 Maintenance Fees in Buildings without Pools: $0.55 / sq. ft.

Covered Parking is One of the Worst Offenders. Unfortunate, as it’s a Necessity for Many with our Harsh Canadian Winters.

Average 2014 Maintenance Fees in Buildings with Parking Garage: $0.58 / sq. ft.

VS

Average 2014 Maintenance Fees in Buildings without Parking Garage: $0.47 / sq. ft.

Gyms

Most Buildings Have Gyms but They can add a Surprising Amount to Your Fees. Make Sure You Plan on Using it if You’re Paying for It.

Average 2014 Maintenance Fees in Buildings with Gyms: $0.58 / sq. ft.

VS

Average 2014 Maintenance Fees in Buildings without Gyms: $0.49 / sq. ft.

Concierge do Cost More but not Substantially so Considering the Added Safety Benefit

Average 2014 Maintenance Fees in Buildings with Concierge: $0.59 / sq. ft.

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Average 2014 Maintenance Fees in Buildings without Concierge: $0.55 / sq. ft.

Rooftop Decks

Soak up the Sun. Common Rooftop Decks Make No Discernable Difference to Your Monthlies.

10_Rooftop Patio

10_Rooftop Patio

Average 2014 Maintenance Fees in Buildings with Rooftop Deck: $0.57 / sq. ft.

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Average 2014 Maintenance Fees in Buildings without Rooftop Deck: $0.57 / sq. ft.

Not Surprising, the Inclusion of Bills has the Greatest Impact on Maintenance Fees of All Types of Amenity. But When you Work Out What it Would Cost You to Pay Separately, the Fee Differentials Are Reasonable.

Average 2014 Maintenance Fees in Buildings with A/C Incl: $0.61 / sq. ft.

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Average 2014 Maintenance Fees in Buildings without A/C Incl: $0.55 / sq. ft.

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Average 2014 Maintenance Fees in Buildings with Heat Incl: $0.59 / sq. ft.

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Average 2014 Maintenance Fees in Buildings without Heat Incl: $0.50 / sq. ft.

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Average 2014 Maintenance Fees in Buildings with Hydro Incl: $0.61 / sq. ft.

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Average 2014 Maintenance Fees in Buildings without Hydro Incl: $0.53 / sq. ft.

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Average 2014 Maintenance Fees in Buildings with Water Incl: $0.58 / sq. ft.

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Average 2014 Maintenance Fees in Buildings without Water Incl: $0.46 / sq. ft.