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What does the apartment maintenance fee cover? (PT2)

Hey this is Cherine Anderson your power realtor with another Power Tip

Do you know what your maintenance fee covers?

Well, let me start by telling you what it does not cover. It does not cover.

The security for your complex going to the door of your Airbnb tenant to pick up the garbage. Nah naah guh work

It also doesn’t include you arguing over that third parking space for your luxury SUV, when you know you’re only living in a one bedroom and you’ve only been allotted one space

But let me tell you what it actually covers:

Your maintenance covers anything in the common area or the outside structure of the building

So let’s say one of the lights in the car the leading to your apartment result that will need to be fixed and that comes from your maintenance

(Also includes)

  • general insurance of the common area
  • cleaning the pool, mowing the lawns, sweeping the grounds
  • your security personnel. You may have one in the night, one in the day, the grounds-man, all that stuff
  • and pest control because we don’t want rat and cockroaches and ‘ChiChi’ (termites) and all of that stuff eating down the structure of the building now water
  • Now, water runs with the property so it would cover common area water

And let’s say have an elevator some light, not in your building, it would generally cover the maintenance of the elevator.

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Apartment Maintenance Fees (PT1)

Hey this is your Power Realtor Cherine Anderson with a Power Tip for today.

Did you know that if you don’t pay your maintenance fees you could actually lose your apartment?

Yes!

If you don’t pay your maintenance fees for a period of time or you owe your strata a lot of money, here’s what they could do:

  • If your Strata is being run properly, they could exercise their right to send you a warning letter. And,
  • If you don’t respond or ignore the warning letter, after 30 days
  • They could apply to The Commission of Strata for a Power of Sale Certificate to sell your apartment

Once they receive the Power of Sale Certificate, your Executive Committee could sell your apartment to recoup the money you owe. They will also take out any legal, advertising and extra costs associated with the sale.

If you borrowed a loan (mortgage) to buy your apartment, the remaining money from the sale would be shared between you and your lender(s).

Download our FREE EBook How to Buy an Apartment of Condo in Jamaica Vol 1

 

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