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What is the maintenance fee for a co-op?

What is the maintenance fee for a co-op?

The maintenance fee for a co-op combines property taxes and common charges into a single monthly payment. In contrast, in a condo, you receive a separate bill for each. Because you don't actually own the apartment, it's all one payment. You own shares in a building, and the property tax bill is sent to the entire building, not the individual owners.

Maintenance payments are typically split 50/50 between property taxes and common charges.

Co-op owners receive a form from the management company at the end of each year informing them of their share of the property taxes. Maintenance fees cover everything required to run the building, such as paying the doormen, cleaning the hallways, taking out the garbage, and so on.

Maintenance can also include planned capital improvements such as hallway painting or a new lobby.

What is the maintenance fee for a co-op?
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