What Are Maintenance Fees

Wondering exactly what those “maintenance fees” are and how they’re created? Not clear on why some people have to pay more than others and what you’re actually paying for?

Also referred to as common area expenses. Maintenance fees are a monthly charge (your share) for the utilities, regular upkeep, management, administration and insurance for the common element areas. The fees vary according to project and home size. Each homeowner’s portion of these expenses is set out in the budget statement, which lists the percentage for which each unit is responsible.