It's time for
another installment of Ask an Agent where you have the opportunity to
ask an actual real estate agent questions about buying and selling.
Our gal of expertise is
Avryll McNair of
Bosley Real Estate Ltd., Brokerage.
She’s been selling and buying condos and houses in Toronto for over five
years. She has a background in home furnishing and lifestyle (she
helped design the
IKEA
store in Etobicoke). That means she can
help buyers see beyond the smoke and mirrors of staging but conversely
knows how to make a home look its best for sellers.
Today's question comes from Julian who asks: Why is there such a range of maintenance fees in buildings in relatively the same location and seemingly same common elements?
Avryll: Age of the building, mechanical systems, operation and management can
have a dramatic affect on monthly condo fees. The volunteer board of
directors for a condominium corporation relies heavily upon the
expertise of the property management company contracted to carry out
daily upkeep and maintenance.
Knowledgeable, experienced and budget
conscious daily operation of a building will result in a better long
term investment for residents and owners. As an example, Condominiums
built in Ontario after 2008 are mandated to have separate hydro meters
for each individual suite; this alone can save a Corporation hundreds
of thousands of dollars annually, providing a notable difference in
maintenance fees.
Do you have a burning question about real estate for our Ask an Agent feature? Please post them below and we’ll send them to our resident agent.
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