Maintenance Fees
Maintenance fees are regular charges paid by property owners, typically in condominiums or shared communities, to cover the costs of maintaining common areas and amenities. These fees help pay for services such as landscaping, cleaning, security, and repairs, ensuring that the property remains in good condition for all residents.
The amount of maintenance fees can vary based on the size of the property and the services provided. Homeowners' associations (HOAs) usually determine these fees, and they may increase over time to accommodate rising costs or additional services. It's important for owners to budget for these fees as part of their overall housing expenses.