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why maintenance fee is different in each unit?
Started by Lola2
over 16 years ago
Posts: 3
Member since: Mar 2009
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When you buy into a co-op, you are actually purchasing 'shares' in a corporation. Maintenance fees are based on the number of shares of each apartment (allocated when the building converted to a co-op).
Apartments on higher floors and with better views generally have more shares than similar units on lower floors. Larger apartments also have more shares. Shares are fixed; they cannot be increased or reduced (which is why combining two co-op apartments can sometimes produces higher maintenance than would be found in a non-combo of similar size.