Understanding Strata Fees & Special Assessments in Townhomes & Condos

By Omeed Ghafori – Award-Winning REALTOR® | South Surrey & White Rock Real Estate Expert

If you're considering buying a townhome or condo in South Surrey or White Rock, it's essential to understand strata fees and special assessments—two major components that can significantly impact your monthly costs and long-term investment.

In this guide, I’ll walk you through what strata fees cover, why special assessments happen, and what you should look out for before making your purchase. Let’s dive in.

🔍 What Are Strata Fees?

Strata fees (also known as maintenance fees) are monthly payments made by owners of strata-titled properties like townhomes and condos. These fees go towards the operation and upkeep of the building or complex, including:

• Landscaping & grounds maintenance

• Building insurance

• Garbage & recycling services

• Common utilities (like water, gas, heating in some cases)

• Strata management company services

• Contribution to the Contingency Reserve Fund (CRF) for future repairs

💡 Pro Tip from Omeed:

Always review the Form B and latest strata minutes to understand how the funds are being used and whether there are any upcoming fee increases.

⚠️ What Are Special Assessments?

A special assessment is a one-time charge levied by the strata corporation when there aren’t enough funds in the CRF to cover large or unexpected expenses. These can include:

• Roof replacements

• Elevator repairs

• Window upgrades

• Building envelope remediation

• Emergency plumbing or electrical issues

These assessments can be thousands of dollars per unit and often come with short payment deadlines.

🏘️ Why Do Strata Fees Vary So Much?

You might notice that strata fees differ between buildings. That’s because older buildings often have higher maintenance needs, or a lower CRF balance. Amenities like pools, gyms, and concierge services also drive fees up.

A well-managed building will have transparent financials, healthy reserves, and reasonable fees aligned with its age and amenities.

📑 How to Protect Yourself Before You Buy

As a REALTOR® serving South Surrey, White Rock, and surrounding areas, I strongly recommend you:

1. Review the strata documents carefully – including the last two years of minutes, engineering reports, and the Depreciation Report.

2. Understand what’s included in the fees – Are utilities covered? What’s the CRF balance?

3. Ask about any known upcoming assessments – and factor that into your budget.

4. Work with a knowledgeable agent – like myself — who can help interpret the documents and spot red flags.

💼 Why Work With Omeed Ghafori?

With years of experience in condo and townhome sales across South Surrey & White Rock, I help my clients make confident, informed decisions — avoiding costly surprises. My background in property analysis, strata review, and negotiation ensures you're protected and positioned for success.

📞 Call/Text Omeed at 778-316-7506
🌐 www.OmeedGhafori.com

🧠 Final Thoughts

Understanding strata fees and special assessments is crucial when buying a condo or townhouse. With the right guidance, these costs don't have to be intimidating — and can even reveal how well a building is managed.

If you're ready to explore your options or need a market evaluation of a townhome or condo, let's connect. I’m always happy to help.