How CondosReview.com works, what the ratings mean, and how to use the platform.
We rate condo corporations across four categories: reserve fund health (35% of the overall score), management quality (25%), resale performance (25%), and amenities (15%). Each category is scored on a 10-point scale based on verified data from status certificates, reserve fund studies, municipal records, transaction data, and verified owner input.
Reserve fund health is weighted highest because it represents the most significant financial risk to buyers. A building with a great gym but an underfunded reserve is a worse investment than a building with a plain lobby and a healthy reserve. The amenities category is weighted lowest for the same reason — we rate what matters financially, not what photographs well. Full methodology details are on our methodology page.
Building profiles are updated when new data becomes available or when material changes occur. Routine data updates (new status certificates, annual budget reviews) happen at minimum once a year per profile. Material changes — a management company change, a disclosed special assessment, completion of a major capital project — trigger an update as soon as we become aware of them.
Every building profile shows a "last updated" date alongside each major data source (status certificate date, resale data period, review date). If you're making a buying decision, treat the profile as a starting point and verify current data through your agent and lawyer. The market moves faster than any review platform can track in real time.
Yes. Owner reviews are a key part of the platform. During Phase 1, we're gathering reviews through direct contact with owners in buildings we've profiled. Phase 2 will include a public review submission form on every building profile page.
We verify ownership before publishing any review. Verification is done by matching the reviewer's unit address to Land Registry records. Reviews that can't be verified are not published. We don't publish reviews from tenants, from agents with a commercial relationship to a building, or from anonymous sources. The goal is a credible signal from actual owners, not a rating that can be manipulated by anyone with an interest in the outcome.
Phase 1 profiles cover major buildings across Toronto's downtown core, midtown, east end, and west end. If the building you're looking at doesn't have a profile yet, it means we haven't gathered enough verified data to rate it. An unrated building is not a bad building — it's just one we haven't gotten to yet.
If you're buying in a building not yet on our platform, use the guides and checklists on this site to evaluate it yourself, working with your agent and a condo-experienced lawyer. The 12-item checklist and the status certificate guide cover the same ground our profiles cover. The process for evaluating an unreviewed building is identical to what we'd do — you're just doing it yourself rather than reading our output.
Maintenance fees affect resale in two ways. First, they're part of the carrying cost calculation that buyers use to assess affordability. A buyer running investment or personal budget numbers will compare the all-in monthly cost of two similar units in different buildings. A meaningful fee difference changes the math, and some buyers will pass on a higher-fee building even if the purchase price is equal.
Second, and more importantly, fees that are too low are often a red flag that reflects reserve underfunding. A building with suspiciously low fees relative to its age and amenity level may be deferring necessary reserve contributions, which eventually leads to special assessments or deferred maintenance. Both of those outcomes suppress resale values. A building with appropriately funded fees and a healthy reserve tends to maintain its appeal and value better over time than a building that kept fees low at the expense of financial health.
A healthy reserve fund is one that's funded at or above the level recommended by the building's most recent reserve fund study. Under Ontario's Condominium Act, every condo corporation must commission a reserve fund study at least every three years. The study projects the cost of replacing every major capital item over a 30-year window and calculates the monthly contribution required to meet those costs when they arrive.
We consider a reserve funded at 90% or more of the recommended level to be healthy. We flag buildings funded at less than 70% of the required level as a concern, and buildings below 50% as a significant risk. Below 50%, the gap between what's in the fund and what will be needed for capital repairs is large enough that a special assessment is likely unless contributions are dramatically increased immediately.
Keep in mind that a newer building may have a lower absolute reserve balance but still be on track relative to its funding schedule. The absolute balance matters less than the percentage funded relative to where the study says the balance should be at this point in the building's life. Your lawyer should make this comparison explicitly when reviewing the status certificate.