Home Buying in Great Neck>Question Details

Ash, Home Buyer in Great Neck, NY

Does the maintenance fee include property taxes when purchasing a co-op?

Asked by Ash, Great Neck, NY Tue Apr 23, 2013

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The maintenance fee does include property taxes; also includes any underlying mortgage, building insurance, management fees, common area upkeep, etc.; ask management for any particulars...
0 votes Thank Flag Link Tue Apr 23, 2013
Yes maintenance includes property taxes on a Co-op. Other things included in maintenance can be heat and hot water, parking, exterior maintence of building, snow removal and trash removal. Each co-op board is different though so these can vary.
0 votes Thank Flag Link Tue Apr 23, 2013
What normally does not includes is Fuel Surcharge.

Iraj kashani
0 votes Thank Flag Link Tue Apr 23, 2013
Yes the maintenance fee includes the property taxes of the unit. At the end of the year there is a percentage that is deductible for taxes. Besides paying for the maintenance of the building and units, the heat and hot water is generally included, and sometimes a parking spot and gas cooking. It depends on the individual coops.
I have 2 units for sale that include parking, heating and hot water, and gas cooking and taxes in the monthly maintenance
. The only utility not included is electric.
0 votes Thank Flag Link Tue Apr 23, 2013
Yes the maintainence fee includes the building taxes on a coop. Terri Levin, Edna mashaal realty
0 votes Thank Flag Link Tue Apr 23, 2013
Yes property taxes are included as well as:

-Maintenance of the Property - Manintenance fees covers the building upkeep such as: Management staff, superintendents, security guards and security system, maintaining the exterior of the building, hallways, gardening, upkeep on the painting, lobby area, elevators,etc.

-Amenities - Cooperatives usually come with amenities that are covered by your maintenance (except for parking). The maintenance covers the upkeep of the common areas such as: laundry area, playground, community area, gym , tennis courts, etc.

-The Co-op Unit - Depending on the problem, your maintenance will cover pest control, anything behind the walls that effects heating, plumbing or electrical. Repairs vary depending on what it is.

-Utilities - Depending on the cooperative your maintenance fees usually covers one or more utilities such as water, heat, gas and rarely electric but it's usually separate. If electric is included sometimes there is an additional fee for use of the air conditioner during the summer months.
0 votes Thank Flag Link Tue Apr 23, 2013
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