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Blog by Frank Mihal

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Frank Mihal talks about high strata maintenance fees!

Frank Mihal video blogs about higher maintenance fees and how they are not always a bad thing. Many things can affect fees such as what type of amenities, # of units in the complex, is it a high rise & if gas as hot water is included or not. Higher fees can also, but not all the time, mean a larger contingency reserve fund which is basically a bank account for the strata. He also mentions a few buildings in Surrey where the owners are trying to raise the monthly strata fee as there is no maintenance being done to the building and very little reserve fund. The most important thing is that you find out where the money is being allocated regardless of a high or low fee. If you have any questions about strata maintenance fees or reserve funds, feel free to contact Frank at http://www.frankmihal.ca