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Why do I Have to Pay a Maintenance Fee on My Condo ?

July 9, 2009 REAL ESTATE No Comments

Maintenance fees are a combination of many things. First of all the maintenance of the building interior and exterior which includes upkeep such as repairs cleaning and maintenance of boilers, heating and air conditioning equipment, if there are extra amenities such as a pool, sauna, fitness facility . These along with landscaping, snow removal and insurance on the building itself.

Rates are assed by the number of unites and amenities. For example the more unites a building has the less costly the maintenance fees as they are equally distributed according to the size of each individual unit.

Let us not forget the management of the unit as well as the handy on site superintendent we call when something goes a miss.

Without these services the buildings would quickly deteriorate and the value of individual units would decline.

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