No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
Estimate your monthly condo maintenance fees based on city, unit size, building age, and amenities.
Condo fees — also called maintenance fees or strata fees in BC — are one of the most variable costs in condo ownership. They can range from under $300/month in a small Calgary building to over $1,200/month in a luxury Toronto high-rise. This calculator helps you estimate what you'll pay and understand what drives those fees.
| City | Avg Rate/sqft/mo | 700 sqft est. | Notes |
|---|---|---|---|
| Toronto | $0.65–$0.85 | $455–$595 | High amenity costs, older buildings |
| Vancouver | $0.55–$0.90 | $385–$630 | Strata fees; newer buildings often lower |
| Calgary | $0.45–$0.70 | $315–$490 | Lower maintenance costs overall |
| Montreal | $0.35–$0.60 | $245–$420 | Often includes heat/water |
| Ottawa | $0.50–$0.75 | $350–$525 | Mix of older and newer buildings |
| Edmonton | $0.40–$0.65 | $280–$455 | Similar to Calgary |
Condo fees are pooled into two buckets: operating fund (day-to-day expenses) and reserve fund (major repairs and replacements).
Condo fees typically increase 3–7% per year. Several factors drive increases:
Reserve fund underfunding: This is the biggest risk. If a condo corporation hasn't been saving enough in the reserve fund, it faces two choices: levy a special assessment (a one-time charge to all owners, sometimes tens of thousands of dollars) or dramatically raise monthly fees. Always request the reserve fund study before buying.
Insurance increases: Building insurance costs have risen sharply in Canada — 15–25% in some years recently. This directly flows through to condo fees.
Aging building costs: Older buildings have more frequent and expensive repairs. Buildings 20+ years old often have higher fees than equivalent newer construction.
Before you buy, watch out for: reserve fund below 70% of recommended level, special assessments in the past 3 years, pending litigation against the corporation, and deferred maintenance items noted in board minutes. A knowledgeable condo lawyer or buyer's agent can help identify these issues. See our Status Certificate guide for Ontario-specific advice.
Condo fees often get criticized as expensive, but they replace costs homeowners pay directly. A detached house owner should budget 1–2% of the home's value annually for maintenance and repairs. On a $700,000 house, that's $7,000–$14,000/year ($583–$1,167/month). Condos consolidate these costs at scale, often more efficiently — but you lose control over when and how money is spent. See our Condo vs. House guide for a full comparison.
Earn cash back on every purchase and reach your home ownership goals faster. New members get $100 bonus with code BREMO2026.
Get $120 with KOHO →