In most condominium corporations, each owner is responsible for the maintenance and repair of his or her own unit and the corporation is responsible for the maintenance and repair of the common elements.
To pay for the general maintenance and upkeep of the common element facilities, condominium residents pay monthly common expenses. The amount of each residents's common expenses usually depend on the size of the unit, and the types of facilities offered by the condo. For example, condos with swimming pools and entertainment centers will generally have higher monthly common expenses than buildings without these facilities. These monthly fees can amount to quite a significant cost, so it is important to be aware of them before purchasing a condominium unit.
To pay for the general maintenance and upkeep of the common element facilities, condominium residents pay monthly common expenses. The amount of each residents's common expenses usually depend on the size of the unit, and the types of facilities offered by the condo. For example, condos with swimming pools and entertainment centers will generally have higher monthly common expenses than buildings without these facilities. These monthly fees can amount to quite a significant cost, so it is important to be aware of them before purchasing a condominium unit.
