08-10-2020, 07:54 PM
(08-09-2020, 08:09 PM)tomh009 Wrote: I think your fee estimate is a bit on the high side. If you assume an average unit size of 900 sq ft and initial condo fees of $0.42 (ex security) which is fairly typical, you get about $4500 per unit per year and $1.35M for the condo corporation budget.
You would outsource the security (not many condo corporations want actual employees) so I'd guess you'd pay around $25/hour all in. That's $220K, or a 16% bump on the condo fees. And this is why our building does not have 24/7 on-site security (we're somewhat smaller, too).
Do you know what the condo fees are at the newer developments that are finished?
My thinking is this is one condo that might need security.