Condo fees in London, Ontario, explained

Updated October 30, 2026 · 8 min read

Condo fees (officially "common expenses") are the monthly amount every owner pays to the condo corporation. In London, they vary widely, from modest amounts in small, simple buildings to much higher fees in buildings with lots of amenities, older mechanical systems or all-inclusive utilities. Understanding why a fee is what it is matters more than the number itself.

What condo fees typically pay for

Every building is different, but fees usually fund two buckets:

1. Day-to-day operations

• Building insurance (the corporation's master policy)
• Property management and administration
• Cleaning, landscaping and snow removal
• Common-area utilities (hallway lighting, elevators, garage ventilation)
• Repairs and maintenance contracts (elevators, fire safety systems, HVAC)
• Amenities such as a gym, pool, party room or concierge
• In some buildings, your unit's utilities: heat, water, sometimes even hydro

2. The reserve fund contribution

Ontario's Condominium Act, 1998 requires corporations to keep a reserve fund for major repairs and replacements of common elements, such as roofs, windows, elevators, parking garage membranes and boilers. A portion of every fee goes into it. Read more in our reserve fund guide.

Why fees differ so much between buildings

• Utilities included or not. This is the biggest driver. A building where heat and water are included will have a higher fee than one where each unit is separately metered, but the total monthly cost may be similar.
• Building age and systems. Older buildings with central boilers, older elevators and underground garages generally cost more to run and require bigger reserve contributions.
• Amenities. Pools, gyms, guest suites and 24-hour concierge all cost money.
• Size of the building. Costs are shared among owners, so fewer units often means a higher share each, though small buildings also have fewer shared systems.
• Unit size. Within a building, your fee is based on your unit's proportionate share as set out in the declaration, usually related to its size.
• How well the building has saved. A building that kept fees artificially low for years may need to raise them sharply to catch up.

Why condo fees go up

Some increase is normal. Insurance, labour, utilities and contractor costs rise over time, and fees have to follow. Larger-than-normal increases usually trace back to:

• A new reserve fund study showing the building needs to save more (studies are required at least every three years).
• Insurance premium increases, which have hit many Ontario condo corporations hard in recent years.
• Major repairs that turned out to cost more than expected.
• Years of under-funding catching up with the building.

How to compare two London condos fairly

1. List what each fee includes. Then add estimated separate utility costs for the building that doesn't include them. Ask the listing agent or the seller for recent utility bills.
2. Calculate the fee per square foot. It's a rough but useful comparison between similar buildings.
3. Ask for the fee history. How much has the fee risen over the past few years? Steady, moderate increases are a good sign. Flat fees followed by a big jump are a warning.
4. Check the reserve fund balance and the funding plan in the status certificate.
5. Factor in parking and lockers. In some buildings these are separate units with their own fees and taxes.

How condo fees affect your mortgage

Lenders count condo fees when they calculate how much you can borrow. Many include a portion of the fee in your housing-cost ratio. A higher fee can therefore reduce your maximum mortgage. Ask your lender or broker how they treat fees before you shop, so you know your real budget. More in our insurance & mortgages guide.

Can fees ever go down?

Occasionally. A building might renegotiate contracts, finish a major project or change utility arrangements. But don't buy expecting it. Plan your budget around fees rising roughly in line with costs.