Bonjour!
If you own a condo or are thinking of buying one here in Quebec, understanding the condo fees (frais de condo) is essential. Your monthly payment is much more than just a simple bill; it is a critical part of protecting your investment and maintaining your community.
In Montreal, our co-ownership laws are very specific about where this money must go. Your monthly payment covers three main areas:
1. 
Running the Show (Operating Budget)
This is the money used to keep the building clean, safe, and running smoothly every day.
- Entretien et Concierge (Cleaning & Maintenance): This pays for things like cleaning the hallways, taking care of landscaping, and, importantly in Montreal, snow removal!
- Chauffage et Électricité (Utilities): This covers the cost of lighting the common areas (like the lobby, hallways, and garage) and often includes the heating and hot water for the whole building.
- Assurance du Syndicat (Building Insurance): This pays for the insurance that protects the structure of the building, including the roof, foundation, and common areas. Crucial Note: You still need your own individual condo insurance for everything inside your unit (your furniture, clothes, and liability!).
- Management: This pays the people (the property manager or the Syndicate directors) who handle the bills, hire contractors, and make sure the building is managed well.
- Les Commodités (Amenities): If your building has a pool, gym, or terrace, the fees cover the cost to clean and maintain these shared spaces.
2. 
The Future Savings Account (Le Fonds de Prévoyance)
This is the single most important part of your condo fees, and it is a legal requirement in Quebec. The Fonds de prévoyance is a separate bank account used only for major, big-ticket repairs that are planned for the future.
- What does it pay for? Replacing the roof, installing a new elevator, changing all the windows, or repairing the concrete in the garage. These are all huge costs that happen every 15 to 30 years.
- Why is it important? A well-funded Fonds de prévoyance prevents special assessments—which is when the Syndicate asks every owner for a big, unplanned lump sum of money all at once because the savings account is empty and a big repair is suddenly needed.
Quebec Law Update: Recent changes, like Bill 16, now require condos to get a professional study (Étude du fonds de prévoyance) done every five years. This study tells the Syndicate exactly how much money they must put into the fund each month to make sure there’s enough for future repairs. This is a huge step to protect all owners!
3. 
Insurance Deductible Savings (Le Fonds d’Autoassurance)
This is another fund that is unique to Quebec and a mandatory part of your fees.
- This money is set aside specifically to pay the Syndicate’s insurance deductible in case of a major claim (like a big water leak or a fire).
- If the building has a high deductible (e.g., $50,000) and the Syndicate doesn’t have a Fonds d’Autoassurance, all the owners could be charged a special assessment to pay that deductible. This fund helps avoid that surprise bill!
The Big Picture for a Montreal Owner
Never be tempted by low condo fees! Low fees often mean the Fonds de prévoyance is not properly funded, which can lead to expensive special assessments later on.
Before buying or if you have questions now, you should always ask to see the Budget, the Financial Statements, and the Étude du fonds de prévoyance. These documents show you how healthy the building’s finances are.