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Condominium Buyers

Common Expenses 

What Are They?

Common expenses, also known as maintenance fees, are the monthly payments you must make to your condo corporation for operating the corporation and maintaining the common elements (for example, hallways, elevators, lobby, driveways, recreational facilities, roof, etc.).  Common expenses will often include payments for things like the following:

          What Common Expenses May Include:

  1. Maintenance and repair of common elements.
  2. Landscaping and snow removal.
  3. Security, superintendent, cleaning and property management staff and services.
  4. Building and public liability insurance for common areas.
  5. Utilities for common areas and operations of recreational facilities.
  6. Legal, accounting, and administrative fees.
  7. Some, all or no utilities and cable for individual units.

How Are Common Expenses Determined?

You are required to pay your proportionate share of the condo corporation’s overall common expenses.  The percentage of overall expenses you are required to pay is determined by the condominium declaration, taking into account the size of your unit compared to others, the number of parking spaces, the number of lockers, etc.  Each year, your board of directors will establish an operating budget for the condo corporation that details the expected total expenses.  Your proportionate share is divided into twelve monthly payments, which are your maintenance fees.  You should note that the directors are at liberty to revise their budget figures as circumstances warrant, so your common expenses could be increased during the year on notice from the board of directors without the necessity of an owners’ meeting.

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