Calgary Real Estate Blog by Jerry Charlton - Calgary Realtor

Calgary Condo Math Made Easy

Calgary Condo Math Made Easy

4 Easy Questions will help you put your condo financial situation in perspective.

  • What is Your Current Condo Fee?
  • What is the Total Of All Condo Fees?
  • What are the Total Operating Expenses?
  • How much Cash on Hand does the Condo Board Have?

The answers to these questions will tell you:

  • What Percentage of The Total Condo Fees does your unit represent?
  • What is the percentage split between Condo Fees for the Reserve Fund and Operating Expenses?
  • How much Cash is on hand for your unit
  • Easily calculate how any Special Assessment would affect your unit.

Analyzing these numbers will lead to a few more questions.

  • Does my condo fee seem reasonable for what I'm receiving?
  • Does the percentage split between expenses and reserve funding seem okay?
  • Does the current cash on hand per my unit seem reasonable?
  • Will there be enough money for future major repairs?

Here is the results from an Actual Condo Building near Chinook Shopping Center with 26 Total Units.


Condo Math

   
     

Total Monthly Condo Fees

$10,510.75

 

Unit Condo Fee - Current

$449.86

4.28%

 

 

 

Current Annual Operating Budget

   
     

Total Condo Fees

$126,129.00

 

Total Operating Expenses

$91,409.00

72.47%

Balance To The Reserve Fund

$34,720.00

27.53%

 

 

 

Unit Condo Fee Split

   

Operating Costs

$326.03

72%

Reserve Fund

$123.83

28%

Total

$449.86

100%

 

 

 

Current Reserve Fund + Other Cash On Hand

$122,112.00

 
     

Current Share of This Unit

$5,226.39

4.28%

 

 

 


Everything good and bad that happens in this building including Special Assessments

- This unit is on the hook for 4.28%


Copyright© Jerry Charlton 403 831 0842 Jerry@JerryCharlton.com

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