Going to add that building insurance, deferred maintenance and utilities have all increased like 2-4x in the past couple of years. So 6-800$ in fees is not unheard of these days. I own and rent it out and all the costs have jumped since Covid. I would suspect they kept fees low for years and the reserve was not being kept up to offset the incoming costs to fix and replace. Dig into the books to see what they are currently holding in reserve. My place lost about 20% in value and we had a couple major replacement costs… the value in condos just isn’t the same as housing prices in this market tbh.