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.
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Condo Math |
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Total Monthly Condo Fees |
$10,510.75 |
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Unit Condo Fee - Current |
$449.86 |
4.28% |
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Current Annual Operating Budget |
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Total Condo Fees |
$126,129.00 |
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Total Operating Expenses |
$91,409.00 |
72.47% |
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Balance To The Reserve Fund |
$34,720.00 |
27.53% |
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Unit Condo Fee Split |
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Operating Costs |
$326.03 |
72% |
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Reserve Fund |
$123.83 |
28% |
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Total |
$449.86 |
100% |
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Current Reserve Fund + Other Cash On Hand |
$122,112.00 |
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Current Share of This Unit |
$5,226.39 |
4.28% |
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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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