What to know
- Wahi found monthly maintenance fees for one-bedroom condos range from $254 to $2,275 across the GTA.
- Nine of the 10 most expensive buildings are in Toronto, while the Ritz-Carlton Residences Toronto tops the list.
- Older condos typically have higher fees due to aging infrastructure and major repairs, while hyper-luxury buildings charge more to maintain extensive amenities.
- High fees can also indicate underlying structural or maintenance problems.
- The expert says unusually low maintenance fees can be a red flag, suggesting developers are keeping costs artificially low to attract buyers or that building management is deferring necessary maintenance, potentially leading to higher costs later.
- Buyers should compare fees with similar buildings and ask questions before purchasing.
Whether you are looking to invest, downsize, or get your first home, maintenance fees represent a significant portion of the monthly fees buyers must bear, and they can vary significantly from building to building.
A new data analysis by real-estate platform Wahi is revealing that monthly condo fees can range from as low as $254 to as high as $2,275 across the Greater Toronto Area (GTA), with nine of the 10 buildings with the highest fees located in Toronto’s core.
The study compares the 2025 maintenance fees across one-bedroom developments in the GTA.
At the top of the list is the Ritz-Carlton Residences Toronto, with a $2,275 median fee, a shocking $1,000 above the second most expensive building, the Palace Pier in Etobicoke, where maintenance costs $1,236.
The only building in the top 10 located outside of Toronto is the Fairways Condos, in 1400 Dixie Mississauga, where the maintenance fees are $966, which places it ninth on the list.
In the meantime, six of the 10 least expensive buildings were also located in Toronto. The Optima on the Park II Condos in Scarborough was the cheapest one on the list, with a monthly fee of $254, followed by The 2800 Condos in North York with a $291 fee, and the Pavilia Towers Condos in Markham at $305.
Now Toronto spoke with Wahi economist Ryan McLaughlin to find out what might be driving the enormous gap, and what these price differences can tell us about each building.
Building age can be a huge factor
Although newer buildings might come with fancy amenities, newer finishes, and modern appliances, they are surprisingly not the ones with the most expensive fees.
According to the Wahi analysis, older buildings are actually the ones with the most expensive maintenance fees, with the ones at the top of the list dating back to the 1950s. In fact, the most recent building on the top 10 was launched in 2012, while the oldest one goes back to 1959.
While this might seem surprising to many, McLaughlin explains that it is common for newer buildings to have lower maintenance fees.
According to him, this happens as developers and building managers look to attract new buyers. At the same time, these buildings also come with less maintenance issues, given they were newly built, making it possible to bring fees down.
“That might be a little surprising… because you think, ‘Newer buildings, newer amenities, you’re getting more,’ so you might think that you have to pay more for those amenities, but in reality, newer buildings often start with lower fees,” he said.
“There’s just less issues with the building right off the bat. So there’s probably not any immediate issues with the building that need to be repaired or anything like that.”
However, the expert said some newer buildings might also initially impose lower fees to attract new buyers, and raise them once these buyers are in.
On the other hand, buyers of older buildings might find much higher fees, as these buildings are already most established in the market.
In addition, given their age, these buildings might often have more demand for maintenance, with more serious or more common issues that require work.
“In these specific cases, these ones have some kind of serious issue. You know, there’s a leaking roof, or there’s some kind of big surprise, and the board or whatever had to jack up the price of the monthly maintenance fee, essentially to pay for some major repairs or some kind of like structural issue or something like that,” McLaughlin explained.
Hyper-luxury, problematic buildings include higher fees
While most of the most expensive buildings are older, the expert said those living in hyper luxury units might also be charged significantly more.
This hike in costs happens because these buildings often come with more amenities, which often require major maintenance.
“A few that stood out right in the center of Toronto, hyper luxury. So in that case, maybe it is a newer building, but… [these] amenities are so substantial,” he said.
High maintenance fees don’t always mean luxury, it can often also indicate that there might be a major problem with the building, which requires more maintenance costs.
“In other cases, the fees are high simply because it’s just a building that’s having some kind of major problem or something like that, and that’s kind of what’s driving it,” he added.
Low maintenance fees can be a red flag
Although it might initially seem great to spend less in maintenance fees, McLaughlin warns that low fees can also be a major red flag for buyers, especially on newer buildings.
Firstly, an extremely low fee might be an indication that management is looking to hike up costs after more buyers move in, leaving them to deal with sudden surcharges.
“Right now we’re in a period where new builds have had a little bit of difficulty, like new condos have had a bit of difficulty selling. So it may be that they’re trying to hold these down to to to sell them,” he warned.
In addition, extremely low fees might also be an indication that the building management is delaying or ignoring important maintenance work, which might lead to other management issues down the road.
“Buildings are, in some sense, like a big company almost, right? There’s a lot of people involved in keeping this thing going, and having good management on the building, making good decisions around maintenance and all this is actually important when you’re an owner of that asset,” he added.
“Part of the thing that you’re buying is the elevators, is the roof, the waterproof ceiling of your unit. You don’t control all of that. You’re relying on the building’s management to do that.”
Buyers should do their research
When it comes to renting, McLaughlin said tenants often face a tradeoff: while rent might reflect higher maintenance costs, they are also rent-controlled, and balanced by the market.
“Our rents are typically rent controlled, or and the landlord’s going to charge what the market will bear, not necessarily what their maintenance costs are. So I think as a renter, it’s less relevant,” he explained.
In contrast, maintenance fees can be crucial for buyers, who should take a detailed look into it before purchasing.
To avoid issues down the road, the expert recommends potential buyers compare maintenance fees to other similar buildings. If the costs seem too low to be true or too high, it can be a sign that something is off.
“If the fee has been quite low for some time, sometimes and again, sometimes this is a little bit potentially irresponsible of those managing the building. They’re holding it low to try to attract in buyers, and they’re deferring maintenance,” he said.
The expert said buyers can also inquire about these fees to their broker or realtor, who will be able to give them more information to make better decisions when buying.
