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Ten year study reveals surprising stats

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Justin da Rosa | 20 Feb 2015, 09:20 AM Agree 0
A new study, 10 years in the making, will help agents better advise clients who are interested in purchasing one of the most popular property types.
  • Helene Kerr | 20 Feb 2015, 12:49 PM Agree 0
    I would very much like to look at the info graphic attached to this article, but when I click on the link, it brings up a view that is too tiny to read. Trying to zoom in on the info graphic doesn't work either (I am using a Safari browser). If you could please look into this, it would be appreciated.
  • REP Editor | 20 Feb 2015, 01:03 PM Agree 0
    Hi Helene,

    The link has been updated; you should be able to see a larger version of the infograph.

    Thanks,
    REP team
  • EddieN | 20 Feb 2015, 02:38 PM Agree 0
    As general stats, there is nothing new or particularly interesting in this article. In fact, the information can be, and will be, interpreted incorrectly. The numbers mean absolutely nothing if along with the maintenance fees you do not consider amenities, what the maintenance fees include (energy and security costs), and most notably the reserve fund, law suits and special assessments. Many buildings, particularly the old ones, have very low maintenance fees. They are low because the owners don't want to pay into the reserve fund and keep maintenance fees to a bare minimum. This means there are no funds available to upgrade systems, renovate nor conduct emergency repairs. Then there is the other extreme - board members and property managers getting kick-backs for renovations that are not necessary. I personally know of condos where parking lot gets repaved every other year when there was nothing wrong with it. Or how about a 200 sq ft storage room getting repainted to a tune of $1500? Information and statistics are great, but to be considered a true professional, do your homework, know your buildings and work to be the best. Do not rely on articles and stats that do not give you a true picture, and always keep in mind that there are no laws to force the condo boards to act one way or another.
  • shangrila | 22 Feb 2015, 02:55 PM Agree 0
    Shangri-La has 2 sets of maintence fees. One where you get all the benefits and the other u don't. So ur example some hotel condos are less you don't take into account the fact above, That is why four seasons,ritz are similar.
  • Helene Kerr | 22 Feb 2015, 05:33 PM Agree 0
    Thanks very much!
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