The CAO (Condominium Authority of Ontario) has finalized their fees for Corporations and a summary of information is available (as of today!) on their website (see link below). The initial estimation of cost per condo suite to fund the Authority was $1/suite/month. We are glad to see the original estimation was accurate for the initial year of service. Only time will tell what fees end up needing to be long-term once the CAO has been in operation for a full year.
Condominium corporations will receive a package from the CAO in late August which will provide details on how corporations can register and pay their assessments. Initial assessments will cover the period from September 1, 2017, to March 31, 2018, and will be due to the CAO by December 31, 2017.