Hi Rachel, These figures will vary from building to building. Common charges are for condos and they usually include maintenence of the grounds/common areas and help with any amenities for the condo association. Note that with a condo will also pay property taxes as well as common charges. You own the unit and are responsible for anything inside of it. As for a coop, you don't own the unit. You own shares in a corporation. This entitles you to a stock certificate and proprietary lease. Here you only pay maintenence, and because you don't own the unit your pro-rata share of the the taxes are included in the maintenence. As well as the cost to care for the building. You can write off anywhere from 45%to 55% of the yearly maintenence on your taxes, the percentage varies from building to building. I hope this helps.
Legends Realty Group