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Maintenance Fees

FINANCIAL STRUCTURE OF A CONDOMINIUM

by: Linda Pinizzotto, DStG – Dame Order of St George –  Founder CEO COA – Condo Owners Association 

What determines your Maintenance Fee?

The Condominium Financials includes the operating budget, surplus of funds, contingency funds and the reserve funds of the Corporation.  The maintenance fee for each unit is assessed in relation to the square footage of the unit, parking and locker (if included).  The Budget will include all of the expenditures based on a fiscal year of operations. Continue reading