Apr
23

What is the Maintenance Fee?

The maintenance fee it is utility payments which are collected for maintenance of the building/buildings and the territory of the project as it should be, for the security, cleaning, garbage removal, communal swimming pool maintenance, project management, etc. Usually this fee is calculated from square meter per month, and must be paid 1 year up-front. The rates of the Maintenance Fees are always depends on the developer and facilities of the project. Then more amenities are in the development, then higher the rate.

However these payments don’t cover expenses on the building renovation and unexpected damages of the building and project territory, these expenses must be covered by Sinking Fund.

Leave a Reply