How to Calculate the Maintenance Charges
The maintenance charge is the amount of money that you collect to meet the normal routine expenses incurred by you for the smooth functioning of the apartment and this will bring down the expenses you have to meet out of your own funds in case of common amenities provided by you.
When you are running a large Apartment complex you need to maintain the common areas and other common amenities for running the apartment complex. Towards this the renters are charged with a periodical maintenance amount usually on a monthly basis for taking care of all these common expenses.
Apart from these service charges towards housekeeping, security, common area upkeep, electricity, and equipment used for the common good of the apartment will be included in the monthly maintenance charges. The lift repair and maintenance charges will also be added to this. In some apartments non- Occupancy charges amounting to 10% of the service charges will also be included in the maintenance charges.
Water charges as per the actual consumption and monthly parking charges based on the number of parking lots occupied will also form part of the maintenance charges. Insurance charges paid for the common equipment can be added to the maintenance charges.
In addition to this there are other charges that can be added to the maintenance charges as decided by the renter’s association or by you as the owner of the apartment.