The amount you pay for your monthly strata management fees can vary greatly from one building to another. It takes a knowledgeable Realtor to do some due diligence to find out exactly where that money is going. In Vancouver the average monthly strata fee is around 35 cents per sq foot. So if you have a 600 sq ft condo you're paying around $210 a month for strata fees. However this is simply an average. There are so many variables when it comes to strata fees and what is considered high or low. If a complex has a higher than average Strata fee say 55 cents a sq foot it doesn't automatically mean it's a poorly managed building. In fact it can be the opposite. That higher fee could mean they are putting extra money into their contingency reserve fund to help fund future maintenance issues. It's another reason why you need an experienced Realtor who knows how to read the strata's financials and find out exactly what their current situation is and where that monthly maintenance fee is going each month. Everything needs to check out before you remove subjects and purchase the unit.
This entry was posted on October 4th, 2012 by Owen Bigland | Posted in Video Blog