[jarek]

> (Depending on area), current rents are in about the same ballpark as payments on a new mortgate,

Not in Toronto, which is like the whole point

> 1) mortgage payments stay approximately the same over the life of the mortgage, whereas rents just go up and up

Condo fees go up and up

[TwiztidK]

>> (Depending on area), current rents are in about the same ballpark as payments on a new mortgate,

> Not in Toronto, which is like the whole point

Then what is the rent/mortgage situation in Toronto? That was never discussed in the article. In my area rent is 2-3x higher than a mortgage, all I know about Toronto is that property values are high.

[jarek]

The early-90s harbourfront towers by Bay and Queens Quay rent studios/1bds for $1500-1600 incl utilities or buy for $400-500k + maint fees $500-700/month + tax + util

[sanswork]

1+1 in the area at the moment will go for around $1800-1900/month. Based on two places I've rented in the Pinnacle centre over the past 3 years(and looking for places in that complex and ones near by).

[jarek]

In the battle of anecdotes, my entry is a studio in the upper third of 99 Harbour Square, 120 degree lake view to the east, rented in July 2014 for $1500 including all fees and utilities. Has it gone up a lot over the past year?

[sanswork]

I moved out of my last Toronto place a few months after that so I'm not 100% but I would say no given the rate of increases in the years before that I lived there. I can say that for a few hundred more a month you could almost certainly have a bedroom and a den pretty much across the street. Pinnacle has some of the better amenities in the area too.

[seivan]

Out of curiosity aren't condo fees based on the debt the condo coop has? In which it fluctuates based on current interests both on the loan as well as the condo fund?

[jarek]

Technically? Probably. In practice they depend a lot more based on the maintenance work that needs doing, and either increase as the building ages or the building standard is lowered. Most condo coops I'm aware of don't have an endowment fund.

[toomuchtodo]

> Condo fees go up and up

Indeed. As a building ages, you can be assured that the condo fee will go up with inflation.