Condominium corporations set condo contributions (fees) to help pay for repairs and maintenance. These contributions go towards the corporation’s operating account (which covers the control, management and administrative expenses for the corporation’s real and personal property, as well as common property and managed property) and to the reserve fund. Contributions are calculated based on unit factors unless the Condominium Property Regulation or bylaws say otherwise. The board also has the power to levy a special levy in certain situations. For example, when the operating account cannot cover unexpected shortfalls. Or to increase the reserve fund balance to meet reserve fund plan requirements. Each owner’s payment of a special levy is calculated based on their unit factor unless the Condominium Property Regulation or bylaws say otherwise. The cost of some repairs may be covered by the condo corporation’s insurance policy. Condominium corporations should check their insurance policy carefully to see whether their coverage extends to repairs (if any).