What Does Condo Management
Cost in Ontario?
Condo Act Governance
Family-Owned Since 1927
Direct Access to Our President
ACMO 2000 Certified
Monthly Financial Statements
24/7 Live Support
What Drives the Fee
There is no single price for condominium management in Ontario. A management company prices each corporation based on the work involved. The main factors are:
· The number of units and buildings
· The type of property: townhouse, low-rise, high-rise or mixed-use
· Amenities, shared facilities and on-site staff
· How often the board wants site visits and meeting attendance
· The age and condition of the property and upcoming projects
· The state of the corporation’s financial records and arrears
What Should Be Included
A full-service management fee normally covers the day-to-day work: financial management and monthly statements, budgets, common expense collection, contractor management and routine maintenance, owner communications, records, and attendance at a set number of board meetings and the AGM.
Ask each firm for a written list of what is included, so there are no surprises later.
Extra Charges to Ask About
Many management agreements charge separately for some items. Ask about:
· Board meetings beyond the number included
· After-hours attendance and emergencies
· Supervision of major capital projects
· Insurance claims and special assessments
· Arrears collection, liens and legal notices, which are often charged back to the owner involved
· Extra mailings and owner meetings
Comparing Proposals Fairly
A lower fee can mean fewer site visits, a manager with many more properties, or more extra charges. Line up the same services side by side and ask:
· Who will our manager be, and how many properties do they look after?
· Is the firm licensed by the Condominium Management Regulatory Authority of Ontario (CMRAO)?
· How often will we receive financial statements?
· Who answers the phone after hours?
Our guide How to Switch Condo Management Companies in Ontario includes a checklist for your request for proposal.
Get a Quote From Enfield
We prepare a proposal for each board after learning about the corporation: its size, age, governing documents and upcoming projects. The proposal sets out the services and the fee.
The Enfield Group Inc. is family-owned, founded in 1927, ACMO 2000 certified and CMRAO-licensed, and most of our 2,000+ units are in townhome and low-rise corporations. See townhouse condo management and condo consulting.
Frequently Asked Questions
Is the fee per unit or per corporation?
The fee is usually a monthly amount for the whole corporation, and boards often compare it per unit per month. It is paid through the common expenses, so all owners share it.
What is usually extra?
Common extras include additional board meetings, after-hours attendance, major project supervision, insurance claims and special assessments. Ask each firm for a written list.
Are small corporations more expensive per unit?
Often, yes. Some management work is the same whatever the size of the corporation, so the cost per unit tends to be higher when there are fewer units to share it.
Can the fee be fixed for the contract term?
Many management agreements set the fee for each year of the term. Ask whether annual increases are built in and how they are calculated.
Does Enfield publish its fees?
We prepare a proposal for each corporation because every property is different. Request a proposal and we will set out the services and the fee for your board.
How do we get a quote?
Fill in our Request a Proposal form or call 905-689-7341.
