Explainer + estimator
Every Toronto condo comes with a monthly maintenance fee you can't opt out of. Here's what it buys, what's normal, when a low fee is a warning sign, and a quick way to sanity-check any listing.
| Maintenance fee (650 sq ft × $0.80) | $520 |
|---|---|
| Parking (typical) | $85 |
| Typical range for this age of building | $573 – $670 |
| Per year | $7,260 |
In the normal range for a building this age. Read the status certificate anyway; the fee tells you the price, the reserve fund tells you the risk.
Ranges reflect Toronto resale and new-build condos I work in and published GTA averages; every building is its own budget. Checked September 6, 2026.
Property tax, your unit's contents and liability insurance, anything inside your walls, and your own hydro in a metered building. Budget for these on top.
| Building | Typical fee / sq ft / month | What's going on |
|---|---|---|
| New, under 5 years | $0.60 – $0.75 | Budgets are set by the developer and usually rise 10–20% once the corporation takes over and the first reserve study lands. |
| 5 – 15 years | $0.75 – $0.90 | The realistic range. Fees track inflation, insurance and the second reserve study. |
| 15+ years | $0.85 – $1.10+ | More utilities included, bigger units, and major components (elevators, garage membranes, windows) coming due. |
Parking typically adds $75 to $100 a month and a locker $30 to $50, either inside the fee or as separate line items. Read the MLS listing carefully: a $520 fee that includes heat, hydro and parking can be cheaper to live in than a $420 fee that includes none of them.
The fee comes out of your rent, not on top of it. A unit that leases for $2,600 with a $650 fee nets less than one at $2,450 with a $380 fee. When I price a rental, the fee is the first thing I look at after the floor plan. If you own a unit and want to know what it should rent for, the free rent estimate covers it.
Almost always: building insurance, common-area maintenance and cleaning, property management, the reserve fund contribution, water and sewer, and the running of amenities like the gym, concierge and party room. Often: heat and central air through a shared system, and sometimes hydro in older buildings with bulk metering. Rarely: internet, cable, parking and locker, which are usually separate line items, and never your own unit's contents insurance or property tax.
Yes. Condo fees go to the condominium corporation for the building. Property tax goes to the city for your unit. They are separate bills, and both are yours as the owner. A landlord cannot pass either one to a tenant as a separate charge; they are built into the rent.
Most Toronto condos fall between $0.60 and $1.00 per square foot per month. New buildings often start around $0.65 to $0.75 and climb as the first budgets meet reality. Buildings 15 years and older usually sit at $0.85 to $1.00 or more, partly because they include more utilities and partly because things need replacing. A fee well below the range is not automatically good news; it can mean an underfunded reserve.
Because the building's costs do: insurance premiums, wages, utilities and the reserve fund study, which is updated every three years and often calls for higher contributions. Two to five percent a year is typical. A sudden double-digit jump or a special assessment usually means the reserve fund fell behind.
It is the corporation's disclosure package: the budget, reserve fund study, insurance, rules, any lawsuits and any special assessments coming. It costs about $100 and a lawyer reviews it before you firm up a resale condo purchase. It is the single best way to judge whether a fee is healthy, and I read every one before a client waives conditions.
For a unit you live in, no. For a unit you rent out, condo fees are a deductible expense against the rental income, along with property tax, insurance, mortgage interest and management costs.
Tell me your budget and the buildings you're considering. I'll pull the fee history and reserve fund position and tell you which ones are healthy — before you fall in love with a floor plan.