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I don't have direct experience with building managers since I work as a delivery driver, but from what I hear from neighbors and friends, yeah, they can fine you. The manager has the right to charge the fee and apply a fine if you don't pay, and that can get recorded and hurt you later.
The condo board can fine you for not paying the fee, as long as it's spelled out in the condo bylaws and internal regulations. The fine is usually a percentage of the overdue amount and works as a collection method, but before that the condo typically notifies the resident and gives you a deadline to settle up. If you're unsure about what's being charged, it's a good idea to review your condo's documentation or talk directly with the management, because each building has its own specific rules.
The fine is real, but before anything else take a look at your condo's bylaws because it's not always clear how it's calculated - some building managers charge a percentage, others charge a flat fee, and sometimes people end up paying the wrong amount without questioning it. A practical tip that actually works: if you're behind on payments, take screenshots of everything (unpaid bill, debit notice, everything) and send an email to the building manager asking to sort it out, creating a record. This is because a lot of fines end up getting removed when the condo owner shows they tried to negotiate first, and it's documented that you weren't ignoring the charge - it makes a difference if you later need to prove you acted in good faith.
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