It's always monthly.
For everyone else's reference, the way it works is that every condo owner has a vote in the Condo Board of Directors, and certain residents will take on certain tasks within that. Each Condo Board must manage the state of good repair of the building, so they will be both billing residents for things like overall month to month maintenance (landscaping, pools, etc) but also creating a slush fund for big-ticket items that will come up in the future (roof replacement, window replacement, rooftop mechanical replacement, etc). Since each condo board decides for themselves how to collect and allocate these resources, you end up with some buildings with really low maintenance fees (usually because they are mismanaged) and some buildings with really high maintenance fees. Typically the ones with really low fees will hit a point where they have a big ticket expense but nothing in the coffers, so everyone's maintenance fees will skyrocket for a month or two to cover the cost.
So to answer someone's question "Why would anyone live in a building with such high fees?" The simple answer is, you can never really know what your maintenance fees will be... you just have to hope that your condo board has its wits about it and is properly managing their books. You can typically get this information before purchasing a unit in a building for peace of mind. I'm sure the fees in that building weren't always so high, and it can sometimes be a reason that people are selling (which has a habit of depressing the value of the unit).
