Quebec condo budget: calculating fees without a hidden deficit

A reliable condo budget separates three needs: current operations, the reserve fund, and the self-insurance fund. The board prices contracts and risks, applies the study's recommendations, consults the owners, and allocates contributions under the declaration of co-ownership. Monthly variance tracking prevents small deficits from becoming surprise special assessments.

Which amounts belong in condo fees?

The first block covers operations: syndicate insurance, common utilities, cleaning, snow removal, elevators, security, administration, inspections, contracts, and routine repairs. Use actual renewals, recent consumption, and an explained inflation assumption instead of simply adding a percentage to last year's budget.

How is the budget allocated among owners?

Under article 1064 of the Civil Code of Québec, each owner normally contributes to common expenses according to the relative value of the fraction. Users of a restricted-use common portion alone pay its routine maintenance and repair costs.

How should the budget be adopted and monitored during the year?

The annual meeting notice includes the required financial statements, debts and receivables, forecast budget, and information on proposed contracts and work. Show each line's variance from the previous year, the impact by fraction, and assumptions that may still change.