As we already mentioned, past 2 years period has became a big challenge almost for everybody and especially for condo owners. Based on “Condo Business Intelligence” 2019 – 2021 years statistics, almost 43 % condominiums increased condo fees by 0,2 % – 10 %, ~ 19 % of condominiums increased condo fees by 10 % – 20 % and ~ 3 % of condominiums increased condo fees by more than 30 %.
At the same time, some of the condo management teams demonstrated a high art of condo management. 24 % of condominiums did not change condo fees
and ~ 6 % of condominiums (108 buildings) even decreased condo fees!
A short summary:
Worst Case
Best Case
Some of Condo Management Companies manage the buildings that might be benchmarks to follow: