One of the most important duties a condominium corporation executes is collecting and allocating common element (Condo) fees. It's also a good idea to explain to homeowners exactly what these fees cover. In general, the fees are used to ensure the upkeep and maintenance of the common areas. They're essential when it comes to making sure the area looks clean, attractive and operate safely.
They're also used to maintain and update shared amenities like clubhouses, fitness centres and pools. Condo fees are usually collected on the first of each month or according to the corporation's by-laws. For homeowners, this is more convenient and straightforward than the alternative-a single fee covers everything from janitorial to snow removal to pool cleaning, rather than having each of these costs billed separately. Let's go over the specific items Condo fees will cover:
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