"When an abatement expires, the property taxes increase, and that usually means an increase in maintenance charges, " he said.
22.
For owners of condominiums and co-ops there are maintenance charges to contend with in addition to the monthly mortgage payment.
23.
"A good general rule is that the reserve fund should be approximately one-third of annual maintenance charges, " he said.
24.
Rents, including common area maintenance charges, range from $ 20 to $ 165 a square foot and average $ 55.
25.
Brett said, adding that the rent being received typically far exceeds the maintenance charges the sponsor must pay to the co-op.
26.
For example, Rose said, determining whether the management firm is efficient in collecting maintenance charges is a matter of simple math.
27.
They might also pay monthly maintenance charges at lower rates than neighboring shops, says Chairman Joe Levy of Fresno-based Gottschalks department stores.
28.
"In most co-ops, maintenance charges are calculated by dividing the building's total budget by the total number of shares outstanding, " he said.
29.
Its medical center has six full-time physicians and 16 specialists on call, who bill residents in the independent-living apartments separately from maintenance charges.
30.
And as those expenses increase the total cost of running the building, they decrease the proportion of the maintenance charges that are deductible.
