(Eaton) Lofts at 276

[plam]

As a comparison point, Quebec condo fees look tiny compared to Ontario condo fees. I don't think there's a similar requirement in Quebec.

Quebec does require a contingency fund, but the rules are less rigorous, I believe a condo building can get away with 5% of the condo fees. In Ontario, if you're looking at a new or well-run building, the reserve contributions will be around 20% of the total, which is indeed more but not enough to explain the difference (the Ontario fees are a multiple of 2-2.5x of Quebec ones). However, the 5% is guaranteed to be insufficient for any kind of major repairs.

Yeah. I think people are on the hook more often for surprise condo repairs in Quebec. Happens in Ontario sometimes but much less often.

So, what else can be (substantially) less expensive in La Belle Provence?

• Hydro is definitely less expensive -- and this is a big cost in the summer (AC)
  
• Electric heat (at Quebec rates) is significantly less expensive than natural gas
  
• Don't know about water or gas costs 
  
• Smaller/older buildings don't necessarily have elevators or AC, saving utility and maintenance costs
  
• If the building has a unit reserved for an on-site superintendent, that can save cleaning/property management costs
  
• Some buildings do not have an outside property manager; the board will instead be paid (something)
  

In the end, unless the building is mismanaged, it's all about the costs. For some perspective on that, this Montreal condo building has their AGM minutes online:
http://manoir4.com/assemblees_generales.html

Power is cheaper, yes, but some places don't really use much common power or heating (e.g. townhouses). Same with water or gas. In fact we don't pay for any of these things at my place in Waterloo except for a property manager, and it's still over $300/month. Landscaping and waste are a significant chunk. Some insurance. I usually look at the financials, but haven't this year.

For that one that you posted, the reserve fund certainly is taking a much smaller percentage of the revenues than I see at my place. But they also have much more services like a swimming pool (which in itself is surprisingly cheap).