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Sponsor Condo Fees

Started by StreetChallenged
over 12 years ago
Posts: 19
Member since: Aug 2013
Discussion about
I've been looking to purchase a unit in a condo, which will be a condo conversion from rentals. The monthly maintenance fees, compared to other similar units in buildings with better amenities in the same area, are extremely high. Since this is a sponsor sale and more than 50% of the units are still rental units, will the condo fees ever go down once the sponsor sells more than 50% of the units? On a related note, I'm assuming the sponsor makes up the majority of the condo board. Will the fees go down once the condo board changes? I'm not sure if this even happens.

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