The Condominium Property Act, 1993 requires an annual reserve fund study, so a big one-time cost like a roof or a parking structure gets spread across every owner's monthly fee instead of landing on one buyer all at once. That predictability is worth something to a buyer working with a tighter budget.
The trade is real, not free. A buyer gives up a private yard and full control over exterior changes, and a healthy reserve fund matters more than the sticker price of the monthly fee, since an underfunded corporation can hit owners with a large special assessment with little warning.
For a downsizer converting home equity into a smaller, lower-maintenance property, that trade often works in their favour rather than against them. Get your hand-reviewed valuation from Joel Dyck.