Home Buying in Brooklyn>Question Details

divalicious1…, Home Buyer in Brooklyn, NY

on an average what does the maintenance fee on a condo cover?

Asked by divalicious1124, Brooklyn, NY Tue Dec 11, 2012

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Dear divalicious1124:

The maintenance fee on a condo covers the costs of the common areas of the condominium development. These are things such as hallways, gardens roof, exterior and the maintenance thereof. For some it can also include garbage and snow removal.

If I can be of further assistance, please let me know. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Wed Dec 12, 2012
The maintenance fees in most building, co-op maintenance fees cover
the property insurance, maintenance of common areas in the co-op,staff etc.

Condo fees typically cover what is normally paid separately in fee simple ownership.

Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group
Direct Line: 347-932-0609
0 votes Thank Flag Link Tue Dec 11, 2012
It depends on the condominium association. Some include water if each individual unit does not have its own water meter. You should contact the management company responsible for a complete list. The most common items that are covered include roof repair, exterior maintenance, termite bond, and building insurance.

Also note the financials of each condominium association you are interested in. Key items to look at are expenses and reserves. The association can assess a special assessment if the HOA fee is not sufficient so it is important to look at all the details.
0 votes Thank Flag Link Tue Dec 11, 2012
On an average it only covers the maintenance to the building, and common areas. However it can include utilities, therefore you should ask your realtor or management company what these common charges(Maintenance charges are usually for coops) cover.
0 votes Thank Flag Link Tue Dec 11, 2012
Contact management for specific details, as each is different; generally the fee includes common area maintenance/upkeep, any amenities such as pools, spas, etc., waste removal, security, management fees, etc.
0 votes Thank Flag Link Tue Dec 11, 2012
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