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!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
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.
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.
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.