08-09-2020, 08:17 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.It’s also why 155 Caroline cut back on their original concierge plans, afaik.
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).