What method is typically used to determine the contribution of each condo owner to the management fee?

The method of determining each condo owner's contribution to the management fee through pro-rated based on ownership interest is rooted in the principle of equity among owners. This approach ensures that each owner pays a share of the management costs that reflect their stake or ownership within the condominium association.

Ownership interest typically correlates to factors such as the size of the unit, the property's total value, and the specific share of the overall property that each unit encompasses. By using this method, the management fees are distributed in a fair manner, which aligns with the financial responsibilities that come with property ownership.

This method contrasts with other approaches, such as a flat rate per unit, which may disproportionately burden smaller or larger unit owners compared to the actual cost incurred by managing their respective properties. Proportionality based on unit size might not accurately reflect ownership stakes and can lead to disparities in contribution based on factors outside an owner’s control. Time of ownership is also not a relevant factor for determining management fees, as all owners benefit from the services rendered, regardless of how long they have held their units.

Thus, pro-rated contributions based on ownership interest ensure that fees accurately represent the owners' stakes in the management of the condominium complex.