What a condo is worth, how fees and reserve funds work, what the status certificate tells you, the rules on pets, rentals and Airbnb, and what owners can and cannot do — for Toronto and Ontario condos.
Value
How much is my condo worth in Toronto?
Look at recent sales of similar suites in your own building first — same layout, floor range, exposure and parking — then in comparable nearby buildings. In August 2026 the median City of Toronto condo apartment sold for $550,000 on 885 sales, but a building-by-building comparison matters far more than any city average.
Full guide: What moves a condo’s valueTry it: Condo value estimator
Last reviewed October 2026 · Jatin Dua, Broker of Record
Why are Toronto condo prices falling?
Mainly supply: a record number of new suites completed in 2025 and 2026 while investor demand and rents softened, leaving many more listings than buyers. Small investor-style units have been hit hardest; larger, family-sized suites in established buildings have held up better.
Full guide: Toronto condo values in 2026Try it: Condo value estimator
Last reviewed October 2026 · Jatin Dua, Broker of Record
Does parking add value to a Toronto condo?
Usually yes, especially in buildings and areas where many suites have none, but by how much varies widely from building to building — there is no reliable city-wide number. Check sales in your own building with and without parking, and whether the spot is owned or exclusive-use.
Full guide: Buying in Toronto without parkingTry it: Condo value estimator
Last reviewed October 2026 · Jatin Dua, Broker of Record
Do high maintenance fees lower a condo’s value?
They can, because buyers and lenders both count them: lenders include half of the monthly fee in your debt ratios, so a higher fee reduces what a buyer can borrow. Compare fees per square foot and what they include — heat, hydro, water, parking — not just the monthly total.
Full guide: How to compare condo feesTry it: Condo value estimator
Last reviewed October 2026 · Jatin Dua, Broker of Record
Are corner units worth more than interior condo units?
Often, because corner suites usually have more windows, two exposures and better light, but the premium depends on the building, the view and the layout rather than a fixed percentage.
Full guide: Corner vs interior units
Last reviewed October 2026 · Jatin Dua, Broker of Record
Status certificate, reserve fund and special assessments
What is a condo status certificate in Ontario?
A status certificate is the condominium corporation’s official package on the building and the unit: the reserve fund, budget, any special assessments, lawsuits, insurance, rules and whether the unit’s fees are paid up. The corporation must deliver it within 10 days of a request and may charge no more than $100.
Full guide: What the status certificate tells youSource: Condo Authority of Ontario
Last reviewed October 2026 · Jatin Dua, Broker of Record
What should I look for in a condo status certificate?
Read the reserve fund study and balance, the budget for planned fee increases, any special assessment, current or threatened lawsuits, the insurance deductible owners may have to cover, and rules on pets, rentals and renovations. Have your lawyer review it as a condition of your offer.
Full guide: What to look for in a status certificate
Last reviewed October 2026 · Jatin Dua, Broker of Record
What won’t a condo status certificate tell me?
More than most buyers expect: it says nothing about the physical condition of the unit or building, the reserve fund balance can be up to 90 days old, fee increases and assessments only have to be disclosed back to the current budget year, and you get a list of major agreements rather than copies. If required information is missing, the law treats the certificate as saying there is none — so silence reads as a clean answer.
Full guide: What the status certificate tells you
Last reviewed October 2026 · Jatin Dua, Broker of Record
What is a condo reserve fund?
It is the corporation’s savings for major repairs and replacements of the common elements — roofs, windows, garages, elevators, mechanical systems — funded from part of every owner’s monthly fee and planned by a reserve fund study that is updated every few years.
Full guide: Reserve funds and special assessments
Last reviewed October 2026 · Jatin Dua, Broker of Record
How often does an Ontario condo have to do a reserve fund study?
Every three years. A new corporation does a comprehensive study in its first year, then studies every three years after, alternating types so the building is physically inspected at least every six years. After receiving a study the board has 120 days to propose a funding plan and 15 days after that to notify owners.
Full guide: Reserve funds and special assessments
Last reviewed October 2026 · Jatin Dua, Broker of Record
Can a condo board levy a special assessment without an owners’ vote?
Yes. The Condominium Act sets no owner-vote requirement or notice period for what people call a special assessment: the board manages the corporation’s affairs and owners must contribute to common expenses in the proportions in the declaration, with a lien on the unit if they do not pay. Your own declaration or by-laws may add requirements.
Full guide: How to avoid special assessments
Last reviewed October 2026 · Jatin Dua, Broker of Record
What is a special assessment and can I refuse to pay it?
A special assessment is a one-time charge to owners when the reserve fund or budget cannot cover a cost. It is not optional: unpaid assessments can become a lien on your unit. Before you buy, the status certificate tells you whether one has been levied or is being considered.
Full guide: How to avoid special assessments
Last reviewed October 2026 · Jatin Dua, Broker of Record
Rules, rentals and owning
Can I rent out my condo in Toronto?
Generally yes for long-term rentals, subject to your building’s declaration and rules and to the Residential Tenancies Act. Short-term rentals under 28 days are much more restricted: in Toronto they are only allowed in your principal residence and must be registered with the city, and many condo corporations ban them outright.
Full guide: Toronto short-term rental rules
Last reviewed October 2026 · Jatin Dua, Broker of Record
Can a condo ban pets in Ontario?
Yes, a condo’s declaration can restrict or prohibit pets, and rules can limit size, number or type, though a rule cannot override human rights protections such as service animals. Read the declaration and rules before you buy if you have or want a pet.
Full guide: Condo rules on pets, smoking and rentals
Last reviewed October 2026 · Jatin Dua, Broker of Record
Do I need condo insurance in Ontario?
Yes in practice. The corporation insures the building and the standard unit; you need your own policy for your belongings, any upgrades beyond the standard unit, liability, and the corporation’s insurance deductible if a loss starts in your unit and the deductible is charged back to you.
Full guide: Condo insurance and the deductible
Last reviewed October 2026 · Jatin Dua, Broker of Record
What does a condo board do and can I vote?
The board manages the corporation’s affairs — budget, reserve fund, maintenance, rules and contractors — and owners elect directors and vote on certain matters at the annual general meeting. Every owner is entitled to attend and vote, in person or by proxy.
Full guide: Condo board and AGM guide
Last reviewed October 2026 · Jatin Dua, Broker of Record
What records can I ask a condo corporation for?
As an owner, purchaser or mortgagee you can request most corporate records — financial statements, minutes, reserve fund studies, agreements and insurance policies — without saying why. The board must respond within 30 days on the prescribed form; core records sent electronically are free and paper copies are capped at 20 cents a page. Employee, litigation and some other records are excluded.
Source: Condo Authority of Ontario
Last reviewed October 2026 · Jatin Dua, Broker of Record
What is the CAO fee on my condo bill?
It is the Condominium Authority of Ontario assessment, $1 per voting unit per month, passed through in your common expenses. It funds the CAO and the Condominium Authority Tribunal, whose filing fees are $25 to file, $50 for mediation and $125 for adjudication.
Source: Condo Authority of Ontario
Last reviewed October 2026 · Jatin Dua, Broker of Record
What condo disputes can go to the Condominium Authority Tribunal?
As of 2026: records requests; pets and animals; vehicles, parking and storage; and nuisances such as unreasonable noise, odour, smoke, vapour, light and vibration, plus related compensation claims. It cannot decide title disputes or common-expense arrears, and applications must be filed within two years of the dispute arising.
Source: Condo Authority of Ontario
Last reviewed October 2026 · Jatin Dua, Broker of Record
How much can a landlord raise the rent on a condo in 2026?
For a rent-controlled unit, by no more than Ontario’s 2026 guideline of 2.1% (1.9% for 2027), once every 12 months, with 90 days’ written notice on the proper form. Units first occupied for residential purposes after 15 November 2018 are exempt from the guideline, which covers much of the GTA’s newer condo stock.
Full guide: Ontario rent increase guideline 2027
Last reviewed October 2026 · Jatin Dua, Broker of Record
Is my newer condo exempt from rent control?
It is if the unit was first occupied for residential purposes after 15 November 2018 — then the annual guideline does not cap increases, though the 12-month rule and 90-day notice still apply. The test is the unit’s first residential occupancy, not the building’s age, and interim occupancy in a new building can complicate the date.
Full guide: Is my rental rent-controlled?
Last reviewed October 2026 · Jatin Dua, Broker of Record
Can I combine two condo units into one?
Sometimes, but it needs the condominium corporation’s approval, often an amendment to the declaration and a new registration, plus building permits — and it changes your fees and taxes. Ask the property manager and your lawyer before buying the second unit.
Full guide: Combining two condo units
Last reviewed October 2026 · Jatin Dua, Broker of Record
Buying a condo
Is there a cooling-off period when buying a condo in Ontario?
For a new condo bought from the builder, yes: the Condominium Act gives buyers 10 days after receiving the signed agreement and the disclosure statement to cancel and get the deposit back. A resale condo has no cooling-off period once the deal is firm.
Full guide: Pre-construction condos and Tarion
Last reviewed October 2026 · Jatin Dua, Broker of Record
Should I buy a condo or a house in Toronto?
It comes down to budget, space and how you want to spend your money each month. In August 2026 the median Toronto condo apartment was $550,000 against $1,170,000 for a detached house; a condo costs less to enter but adds a monthly fee and a corporation’s decisions, while a freehold home gives you land and control but every repair is yours.
Full guide: Condo or house in Toronto?
Last reviewed October 2026 · Jatin Dua, Broker of Record
What are interim occupancy fees?
When you move into a new condo before the building is registered, you pay the builder an interim occupancy fee instead of a mortgage: interest on the unpaid balance, estimated property tax and the common expenses. It does not build equity, and it can last months until the condo is registered and final closing happens.
Full guide: Interim occupancy fees explained
Last reviewed October 2026 · Jatin Dua, Broker of Record
What is an assignment sale?
An assignment is when a buyer of a pre-construction home sells their contract to someone else before closing. The builder usually must consent and may charge a fee, HST can apply to any profit, and the new buyer takes over the original agreement.
Full guide: Assignment sales in Toronto
Last reviewed October 2026 · Jatin Dua, Broker of Record
What is the difference between a condo and a co-op?
In a condo you own a deeded unit plus a share of the common elements, registered on title, and you can mortgage it normally. In a co-op you own shares in the corporation that owns the building plus the right to occupy a unit — not registered title — so most major lenders will not write a conventional mortgage, resale is slower and the board usually approves buyers.
Full guide: A co-op building explained
Last reviewed October 2026 · Jatin Dua, Broker of Record
Why don’t published condo square footages match?
Because sources count different things: listings and websites sometimes include terraces or even combine units, while the registered declaration shows the legal unit. Confirm the size from the declaration or the builder’s plans before you compare prices per square foot.
Full guide: Humber Bay condos over 2,000 sq ft
Last reviewed October 2026 · Jatin Dua, Broker of Record
What does a condo corporation number tell me?
It confirms the corporation is actually registered and roughly when, and it is what the status certificate and reserve fund study are filed against. If no one can produce it from a document, treat the building as something other than a registered condominium until proven otherwise.
Try it: Etobicoke condo building directory
Last reviewed October 2026 · Jatin Dua, Broker of Record
Where can I find information about a specific condo building?
Start with building-level information: who built it, when it was registered, its condominium corporation number, fees and recent sales. This site documents more than 250 Etobicoke condo buildings, from Humber Bay Shores to the Queensway and Islington.
Full guide: Every condo building on the QueenswayTry it: Etobicoke condo building directory
Last reviewed October 2026 · Jatin Dua, Broker of Record
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Jatin Dua · Broker of Record · RE/MAX Quantum Realty · Toronto and the GTA