Disclaimer: The information contained in the Videos and Notes is based on the Alberta legislation unless stated otherwise. Although many of the condominium buyer needs, concerns, and requirements are the same in all jurisdictions, the condominium legislation and terminology is unique to each Province, State and Country.
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CONDOMINIUM FEES
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Condominium fees is the short term for an owners contribution toward the maintenance of their investment. Condominium Fees are due and payable monthly (in most cases). The annual amount an owner is to contribute is based on the annual operating and reserve fund costs, determined by either the Unit Factor assigned to the Unit or a formula required by a bylaw.