Townhouse Fees?

Question

Here in Ontario we are looking at purchasing a Townhouse with fees at $140 a month. Naturally the fees will go up with inflation - by law is there a limit as to how much they can go up annually?

Thanks!

Answer 1

no-- as long as they announce it to the

assn members according to Ontario

law..

Answer 2

Almost certainly not.  Some jurisdictions could have a law like this, but I doubt it.  Also, if they didn't raise the fees enough and needed money they could do a special assessment (assess all owners an extra one-time fee).   Still, the home owners board is probalby made up mostly (or entirely) of other unit owners so they pay the fee too and therefore like to keep it as low as possible.

Answer 3

Wow, those are stiff HOA fees for a townhome.  There is no limit as to how much they can raise, but your best bet is to get involved with the board.  That's the best way to give yourself some control and knowledge so that you don't become a victim of others making decisions for you.