The Ultimate Guide to Toronto Condo Living

For many individuals, owning a condo represents the epitome of city living. Shiny glass facades, spectacular city skyline vistas, beautiful modern interiors, low-maintenance living, and all the amenities you could want within a short elevator ride or walk – these are just a few of the reasons why we love condo living.

But like most things, condo ownership comes with a unique set of rules and quirks, and if you’ve never owned one before, some of these things might come as a surprise.

In this post, we’re talking condo ownership from A to Z. Here’s everything you need to know about condo living in Toronto.

Haven’t bought your condo yet? Read our Ultimate Guide to Buying Your First Condo in Toronto.

How Condo Ownership is Different

It probably won’t surprise you to hear that owning a condo means adhering to a different set of laws and rules than owning a freehold home. Although there are provincial standards and regulations that govern condo buildings, there are also regulations and systems that are unique to the building you live in.

From the insurance you get to the maintenance fees you pay, here are a few ways owning a condo in Toronto is different.

Get to Know the Condominium Act

The Ontario Condominium Act is a piece of legislation that essentially governs all condos in Ontario. It’s the legal framework that outlines the rights and responsibilities of owners, boards, and corporations. It also governs the creation and management of condos, protecting owners and ensuring responsible management of condo buildings.

Some of the key rights you have as a condo owner under the Ontario Condominium Act include:

Access to condo records
Voting rights and attendance at meetings
Fee transparency
Dispute resolution and the ability to challenge the corporation if you feel decisions have been unfair
Equal treatment for all owners
Freedom to sell or lease (as long as you comply with condo rules)

But Wait, There’s More!

Aside from the Condominium Act, condo buildings have their own unique declarations, bylaws, and rules, which can dictate what constitutes common elements in the building, pet policies, and community standards.

In addition to this, the Condominium Act also mandates that every condo corporation maintain a reserve fund, which is essentially an emergency savings account for major repairs.

Tip: A well-funded reserve fund is a sign of a well-managed condo! This is something you’ll review in the status certificate prior to purchasing.

The Role of the Condo Board

A condo board is a group of elected individuals (usually unit owners) who are responsible for the governance, financial management, and maintenance of the building.

Condo by-laws and rules, maintenance of common areas, renovation approvals, and addressing resident concerns and disputes are just a few of the responsibilities of the condo board.

Since the decisions of the condo board have a direct impact on your living experience in the building, it’s important to stay involved and informed.

Should You Join the Condo Board?

Every condo board will have an Annual General Meeting (AGM), which is when elections for board members are typically held. Most condo boards consist of three to seven members, with terms lasting one to three years. However, if the idea of joining the condo board feels like too much responsibility, there are other ways you can contribute and stay involved:

Attend condo board meetings
Participate in the AGM
Volunteer for specific condo committees (e.g., finance, landscaping, security, etc.)

How Much Are Condo Fees?

Condo maintenance fees vary from building to building depending on the unique amenities and features of the property. For example:

Condo fees in a larger building might have higher operating costs, but with more units, the cost might be spread out more.
Older buildings might have higher fees due to needing more maintenance and repairs.
A building full of high-end amenities like pools, gyms, and concierge services might have higher fees.

Did You Know: The size of your unit also contributes to the cost. Maintenance fees are typically calculated based on the square footage of your unit plus any additional “owned space” like parking spots and storage lockers.

What Do Condo Fees Cover?

From amenities to maintenance and repairs, security services, and shared equipment costs, condo fees cover a wide array of costs associated with operating a residential condo building.

Other expenses often included in condo fees are things like building insurance, reserve fund contributions, and, in some cases, utilities.

Learn more about what’s covered in your condo maintenance fees with this video:

What’s the Deal with Property Management Companies?

A property management company is different from the condo corporation and the condo board. The property management company is charged with handling the day-to-day operations and making sure the building functions efficiently, supporting a high quality of living for residents.

The property management is hired by the condo board, and they are essentially the “bridge” between the condo board and the residents. They carry out tasks like building maintenance and upkeep, amenity bookings, collecting condo fees and allocating funds, and responding to emergencies.

Did You Know: If the property management company is not meeting expectations, residents can voice their concerns to the condo board, who has the authority to make a change in that regard.

Get an in-depth look at some of these condo ownership basics with these posts next:

What to Know as a Toronto Condo Owner

There are many pros of owning a condo: low maintenance living, built-in amenities, everyday convenience, and added security, to name a few. At the same time, there might be some drawbacks you haven’t considered yet. The monthly fees, less personal control over your space, and rules and restrictions might have you feeling like condo living isn’t quite right for you.

However, with all things, we believe that education is key to making the best decisions for your unique situation. The following items are neither positive nor negative things about living in a condo; they are simply just some things you should keep in mind.

Depending on Your Condo, You May or May Not Have Utilities to Pay

While some condo buildings include utilities in their monthly maintenance fees, not all of them do. Here are some details about utilities you’ll want to know about:

Your maintenance fees might cover all, some, or no utilities
Each building will hire a submetering service to supply, install and bill for individual unit consumption of any utilities that aren’t covered by your fees
The utilities that are, or aren’t, included in your fees, can change over time

Have You Heard of Kitec Plumbing?

If you’ve been reading our real estate blog for any length of time, you’ve probably come across the term “Kitec plumbing.” Additionally, you’ve probably heard buyers and sellers talk about it with disdain or even fear!

Kitec plumbing was used in Toronto homes and condos between 1995 and 2007. It’s a flexible piping system that became popular because of claims like: resistance to corrosion, cost-effectiveness, and ease of install. The bright blue and orange pipes are easily recognizable.

Unfortunately, despite its initial promise, Kitec plumbing turned out to be problematic across North America. Pipe deterioration led to dezincification, reduced water flow, micro-cracks, and leaks. Kitec plumbing has since been recalled, and a class action lawsuit was settled in 2012 for affected homeowners.

As a condo owner, it’s important to know if your unit has, or ever had Kitec, and if the entire building has replaced Kitec plumbing; otherwise, your unit might be at risk for water leaks from neighbouring units.

For a closer look at Kitec plumbing and what to do if you find it in your unit, watch this video:

What About Condo Fan Coil Units (FCUs)?

Your condo likely uses a fan coil unit to regulate your home’s temperature. These compact systems are usually installed in the wall or ceiling of your unit and work in coordination with your building’s central HVAC system.

These units typically last 15-20 years with proper maintenance, and can cost a few thousand dollars to replace. In most condos, the unit owner is responsible for the upkeep and replacement of the individual FCU, but that’s something you’ll need to confirm in your building’s declaration.

Learn more about these topics with these posts next:

Living in Your Condo

Whether you love the condo lifestyle and plan to stay in your unit a long time or this is just a stepping stone to your forever home, owning and living in a condo is just like living in any other space; you have the freedom to transform the space and make it your own (to an extent).

Make a Small Condo Feel Larger

Unlike a detached house, where you might have the freedom to build an addition if you want, when you own a condo, the space you are given is what it is. But living in a small condo doesn’t mean giving up comfort or good design.

From choosing multi-functional furniture and adding mirrors to open up the space, or sticking with light colours and using rugs to define specific “zones” in the home, there are many things you can do to make even the smallest condo feel airy and chic.

Looking for more decor ideas? Watch this video for 8 tips to make a small condo functional and stylish:

Thinking About a Condo Renovation?

If simple design tricks and staging aren’t cutting it, you can always renovate your condo. Perhaps you want to tear down a wall to open the space. Or maybe you dream of creating a spa-like bathroom or chef-worthy kitchen that’s custom to your style?

While all this sounds fun and exciting, you can’t simply make significant changes to your condo whenever you like. There are condo renovation approvals to consider. Approvals typically need to come from the condo board and need to align with the building’s Governing Documents.

However, not all condo renovations require approval. Here’s a breakdown of a few common renovations:

✅ Requires Approval	❎ Does Not Require Approval
Structural changes like removing walls	Painting or wallpapering
Plumbing and electrical modifications	Upgrading or replacing light fixtures
Replacing or changing the flooring	Refacing cabinetry or changing hardware
Work to the balcony, windows, or exterior doors	Simple appliance switches
Any major renovations that require city permits	Basic repairs (installing shelves, media centres, etc.)

Pro Tip: If you’re planning a condo renovation, choose a contractor with specific condo experience. They’ll better understand the nuance of condo renovations.

Get a closer look at the topics covered in this section with these posts next:

How to Enjoy the Condo Lifestyle

Beyond the low-maintenance, stylish, convenient, and comfortable lifestyle you can achieve in a condo, there’s also another big aspect of condo living we should address: location! One of the best perks of living in a Toronto condo is being within walking distance of amazing amenities and conveniences.

Depending on which neighbourhood you live in, you may find yourself surrounded by world-class restaurants, trendy boutiques, fabulous coffee shops, or even beautiful parks and nature trails.

Here at yael + co. real estate, we love all of Toronto’s unique neighbourhoods, but there are two in particular that hold a special place in our hearts.

Watch: Why I Love Yonge & Eglinton

Watch: Why I Love The Entertainment District

As local residents and real estate experts, we’ve perfected buying and selling real estate in Yonge & Eglinton and The Entertainment District. Learn more about the neighbourhoods, the local micro-market, and the incredible buildings in these areas by checking our these pages:

When to Sell Your Condo

There may come a time when condo living is no longer what you need it to be. Maybe saying hello to your neighbours in the hall every day is starting to feel like a burden. Perhaps you’re tired of elevators and just want to touch grass. Or maybe you simply need more space for the next phase of your life.

No matter the reason, when you have outgrown your condo, you have a couple of options: sell it outright or rent it.

Renting Your Condo

Depending on your financial situation, renting your condo instead of selling it might make a lot of sense. However, before you start snapping pictures and looking for a great tenant, you’ll need to consider your condo corporation’s bylaws. Some buildings may have specific rules around rentals while others may prohibit them entirely.

What About Short-Term Rentals? Thinking about renting your condo on Airbnb? You’ll need to consider both your condo corporation’s bylaws and the City of Toronto’s Regulations in your area.

If selling your condo is a more advantageous path for you, the first thing you’ll need to do is hire a listing agent. It’s always a good idea to work with someone who has condo and neighbourhood experience, in addition to someone who makes you feel confident in their ability to get the job done.

Looking for a Partner on Your Real Estate Journey?

From buying your first condo to living in it, selling it, finding your forever home, and beyond, it pays to have a trusted advisor on your side. At yael + co. real estate, we believe in completely demystifying buying and selling real estate so you can make good decisions.

Whether you’re thinking about buying a home in Toronto or weighing your options to sell, we’re here to help.

Contact us today by filling out the form on this page, calling us at 416-909-9235, or emailing us at info@yaelandco.com. Even if you just need someone to ask questions and bounce ideas off, we’re happy to chat!