The condominium board usually sets condominium contributions (fees) annually after considering all of the operating and reserve fund needs of the condominium. The total amount needed to cover the condominium’s expenses is split amongst the unit owners based on the unit factor assigned to their specific unit, unless the bylaws specify another method. Unit factors are typically proportional to the size of the unit and increase with the size of the unit. If you’re unsure of how unit factors are assigned in your condominium, check the schedule attached to your condominium plan. Be aware that the condo board can increase condominium contributions. As operating expenses increase, contributions will increase. If more money is needed to increase the reserve fund, the condo board can decide to either increase contributions or levy a special levy.