Market Conditions in Midwood>Question Details

Rashid Khan, Home Buyer in Brooklyn, NY

What is mantinence charges?

Asked by Rashid Khan, Brooklyn, NY Fri Feb 7, 2014

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Rashid, the maintenance on this apartment is $975.00 per month and that includes the gas, heat, central air, real estate taxes and water. The only utility bills you have to pay for are the phone, internet and cable TV. This building also has a 24 hour doorman, beautiful lobby, updated laundry rooms and a heated outdoor pool for the owners to use in the warm weather. If you want to view the apartment you can contact the listing agent or call me and I can show it to you as wel. Good luck! Sincerely, Mitchell Feldman, Associate Broker, Fillmore Real Estate (917) 805-0783/
0 votes Thank Flag Link Sat Feb 8, 2014
Monthly payments made by owners for the common operating expenses to include: Taxes, insurance,underlying mortgage, water, janitorial, maintenance of mechanical / electrical / plumbing systems, and a reserve fund for major repairs and capital improvements.
0 votes Thank Flag Link Sat Feb 8, 2014
Hi Rashid. To answer your question specifically: it appears that 3L's maintenance is listed as $975/month. Generally: in addition to Frank's answer, maintenance charges typically include a Co-op's heat, hot water, property taxes, and a portion of the co-op's underlying mortgage payment, if there is one. The co-op's property taxes are paid quarterly by the co-op. Also important to know is how much of the maintenance is tax deductible, as this is one of the perks of owning vs. renting.
0 votes Thank Flag Link Sat Feb 8, 2014
In real estate, the residents or owners of the property in a specific area are charged for maintenance and operations of the commonly-owned property areas. This charge is called maintenance charge.
0 votes Thank Flag Link Sat Feb 8, 2014
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