Here are the condo buildings with the highest and lowest maintenance fees in the GTA
Condo maintenance fees are among the countless costs of living in Toronto that have surged fiercely in the last few years, with a recent investigation finding that in some parts of the city, these bills are now increasing by double the amount they usually do per year.
In light of these escalating charges — which, for residents of some buildings, average more than $1,000 per month on top of mortgage payments and other fees associated with owning a unit — real estate platform Wahi has generated lists of the complexes in the GTA that have the highest and lowest condo fees.
Life in Toronto gets even more expensive as condo maintenance fees skyrocket https://t.co/bDbKT9nb5G
— blogTO (@blogTO) March 25, 2024
The firm notes that these bills can vary greatly from building to building, both in their amount and what they cover. A monthly payment of one standard amount usually includes most or all basic utilities (water, garbage disposal, electricity, gas), and can also encompass things like internet or cable.
These fees also pay for things like landscaping, cleaning, small repairs and general maintenance, and also the condo corporation's reserve fund for emergencies and major projects affecting communal assets.
The developments that Wahi found had the highest fees across the region were in predictably bougie communities, like Oakville and Toronto's Yorkville neighbourhood.
The esteemed Residences of the Ritz Carlton at Wellington and Simcoe Streets holds the top spot, with median maintenance fees of a whopping $2,268 a month for a one-bedroom unit.
Also high on the list were the Four Seasons Private Residences in Yorkville ($1,561 per month for a one-bed), the Granary on Lakeshore Road in Oakville ($1,440), the Governor's Hill building just north of Yonge and Lawrence in North York ($1,405) and the Hazleton Residences on the eponymous avenue, also in Yorkville ($1,340).
For those who don't have these bonkers amounts to spend per month after already forking out decades of savings for a down payment and thousands more each month for a mortgage on an overpriced box in the sky, there are a few units with cheap maintenance fees in the city proper.
The lowest monthly fee bill in the region (again, based on median fees for a one-bedroom unit) can be found at Origin Condominiums in Milton, which charges owners only $217 per month.
Next on the list is SweetLife Condos at Morningside and Lawrence in Scarborough, which is notably the newest construction on either list. Its maintenance fees are a low $237/month.
Also on the inexpensive end: Bower Condos in Oakville ($247 a month), The Point at Emerald City Condos at Highways 401 and 404 in North York ($250 a month), Optima on the Park II at McCowan and Steeles in Scaborough ($254) and ME Living Condos at Markham and Ellesmere in Scarborough ($255).
Based on Wahi's analysis, older luxury complexes tend to have the highest levies, while newer builds in suburban areas outside of downtown Toronto are more likely to have the lowest.
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