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common charges

Started by jjstokes
over 15 years ago
Posts: 3
Member since: Jan 2011
Discussion about
Does common charges ever increase ? If so, by how much?
Response by chelapt
over 15 years ago
Posts: 81
Member since: Apr 2010

yes...depends on the building but since union pays and taxes seem to go up every year...can be 2 to 6% per year....

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Response by alanhart
over 15 years ago
Posts: 12397
Member since: Feb 2007

It's not just that, it's all operating costs (energy, water, insurance) and all capital/building costs that need to be saved for (bricks, petroleum-based materials, cement, labor, etc.).

So yes, common charges increase along with everything else in life. A well-run building will have a small increase (3-4%, usually) every year, so that there isn't a "sudden" "surprise" need for a 30% increase in one year.

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