ZERO Condo Fees

[mcgregok]

Del Ridge Homes announces an industry first - a condominium with zero Condo Fees

http://www.dailycommercialnews.com/nw/12792/re

So, what about maintenance costs?

 

[RedlineBrett]

It says in there "the green energy income stream will produce enough revenue to cover the condo fees of every resident on a yearly basis"

so, through the use of solar panels and other energy efficient green technology the building will actually provide a surplus of energy - which it can sell back to the grid and cover the cost of the condominium fees.

There will surely be a reserve fund plan and maintenance schedule but the owners of the condo also own a revenue stream which can apparently cover their condo fees. Very cool, but will obviously require another level of due diligence to make sure the system works!

 

[Thomas Beyer]

a nice marketing plot .. but possibly not sustainable .. especially right now with low energy costs .. but a GREAT idea worth copying certainly !!

 

[sorrenson]

QUOTE (thomasbeyer2000 @ Jun 30 2009, 02:05 PM) a nice marketing plot .. but possibly not sustainable .. especially right now with low energy costs .. but a GREAT idea worth copying certainly !!


This is not at all original, Germany has a large number of buildings like this ..however Germany pays substantially more for electricity under the buy back system

 

[Dan_Eisenhauer]

For some reason, small producers of electricity in Canada have a LOT of difficulty selling their surplus power back to the grid. It sounds logical in principle, but is rare in practice. The regulating agencies make them jump through hoops, and then simplyn drag their feet in issuing approvals. Go figure?!?! Only in Canada!

I wish them luck with their plan.

 

[rforgiel]

This project is in Ontario were we have the standard offer contract (SOC) for renewable energy. The government will be under contract to buy back the energy at a fixed and substantially higher then market price so it should be sustainable if they did their calculations properly. It looks like an interesting idea.