This is a stupid question, are maintenance fees paid monthly or yearly? I am searching on mls and it says maintenance and then whatever the dollar figure is and I can't figure it out. TIA!
JennyAPH
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Re: Condo & Coop Owners
I own a condo and i pay my maint. fee monthly
kbond06
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Re: Condo & Coop Owners
yep monthy
frenchy702
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Re: Condo & Coop Owners
I own a co-op and you pay it monthly
JamieAnt06202009
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Re: Condo & Coop Owners
Some of them say $900 so that would be $900 just for maintenance...wow that's a lot.
kbond06
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Re: Condo & Coop Owners
lol yes it is...my co-ops about 720 a month
sofreakingexcited
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Re: Condo & Coop Owners
We pay a maintainence fee every month. It's like almost as much as our mortgage Oh and it's a co-op.
chicky724
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Re: Condo & Coop Owners
Posted by JamieAnt06202009
Some of them say $900 so that would be $900 just for maintenance...wow that's a lot.
Yeah it s*cks... it's your taxes too though and usually includes heat. But still part of the reason why we decided to rent instead of buy.
frenchy702
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Re: Condo & Coop Owners
Posted by chicky724
Posted by JamieAnt06202009
Some of them say $900 so that would be $900 just for maintenance...wow that's a lot.
Yeah it s*cks... it's your taxes too though and usually includes heat. But still part of the reason why we decided to rent instead of buy.
Yeah it does include your taxes which allows you to apply for STAR (New York State's School Tax Relief) which lowers your maintenance a little. My maintenance also includes heat & water.
JennyAPH
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Re: Condo & Coop Owners
Thats alot of $.. I pay $163 but I own a condo not a coop.. also mine doesn't includes any taxes or utilities or anything.
JamieAnt06202009
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I guess it would be better for us to buy a house then. I don't know what we are going to do. Maybe rent for a year and then buy a house. So many different options.
Firkx3
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Re: Condo & Coop Owners
We own a condo and pay maintenance monthly. However, taxes are not included in that, taxes are included in the mortgage payment. Our maintenance includes heat & water bills. but everything else we pay seperate. Our payment is about 450 per month
Espo22
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Re: Condo & Coop Owners
Posted by JamieAnt06202009
Some of them say $900 so that would be $900 just for maintenance...wow that's a lot.
alot of co-ops though the maintenance fee is deductible. Some are 50%, so when you get your taxes, you will get 50% of what you paid in maintenance fee's that year, so thats not bad since you do get back half of it. Some are even 65%. So definitely ask about this
yes some co-op's are $900 a month, ive even seen $1200. But average i would say is $500-800. Mine is $792 but let me say that it was alot less than that when i moved in, it was about $500. So keep in mind that although its $900 now it can go up. If they do anything to the building then they will raise maintenance fee's. Even for other things they can raise it. Mine has changed several times in just 4 years.
condo maintenance fee's are alot less though. But they cost more too so kinda balances out. Co-op's are less but maintenance fee is higher and condo's are more but less maintenance
