Toronto condo owner shocked to receive $40,000 bill for new windows
CTV
When Bonnie Jones bought her first condo five years ago, she thought aside from her mortgage and taxes, the $1,000 in monthly maintenance fees would cover all other costs associated with her condo unit.
When Bonnie Jones bought her first condo five years ago, she thought aside from her mortgage and taxes, the $1,000 in monthly maintenance fees would cover all other costs associated with her condo unit.
That’s why she was shocked to get a special assessment to pay an additional $40,000 to replace her windows.
“I have until next week to come up with $40,000 plus legal fees and interest or they are going to sell my condo unit,” Jones said.
When you own a condominium, the common expenses are shared by all owners which is usually covered by monthly maintenance fees, but in the event your building needs a major repair like new elevators, a boiler or replacing balconies, you could have to pay additional costs which is referred to as a “special assessment.”
Jones lives at Guildwood Terrace in Scarborough, where there are two 33-year-old buildings which are currently having all their windows replaced.
CTV News Toronto reached out to her condo board which said it couldn’t speak to Jones’s situation due to privacy reasons, but a spokesperson said that some windows in the building have been leaking for years and it was necessary to deal with the windows before they got worse.
The board said it had various meetings with owners and paid for an engineering study which recommended replacing all the windows at the same time. The board said it followed the recommended process, warned owners three years ago repairs were needed and gave them payment options.
