Live/Work Maintenance
Started by bem9
almost 11 years ago
Posts: 56
Member since: Mar 2009
Discussion about
I am interested in buying an apartment with a maintenance that is higher than other apartments of the same floorplan on higher floors in the building. I am told by the agent that this is because the apartment was used as a workplace in the past. Does anyone know how to go about trying to get the maintenance reduced since the apartment is no longer used for work? Or is this even possible?
Essentially impossible, unless some of the maintenance is an 'additional fee' rather than just the per-share cost everyone pays (with this unit having some extra shares). The share counts are set out in some of the core governing documents for the building and the unit. And nobody else would go for it; you are asking to reduce your share of the building's expenses and instead get all the other units to increase their proportionate share. There is virtually no incentive or upside for the board to do this.
You don't describe the apartment as a condo(where business is allowed) but you are seeking to have the "maintenance " charges lowered , so it seems that the apartment is in a co-op building or is the building a cond-op ? Either way it's probably not possible to get your maintenance payment lowered. The Purchase price can be negotiated but the monthly payment is set.
sorry, it is a coop. it is not currently being used as a business but in the past it was used as a residence as well as a doctor's office. the seller's agent tells us that the maintenance is high because it was a work/live property in the past, but that this might be able to be reversed.
Ask the seller's agent why, if the share-count could possibly be reduced, some previous owner didn't do it.
Ask the agent show you the certificate of occupancy of the building. You want to make sure you are buying a legal apartment not a doctor's office.
I would think that the claim of usage as a place of business would increase property and insurance, which they justifies the increased maintenance. However, I thought most mixed use residential/commercial spaces were on lower levels of buildings. I would double check to see if the agent is mistaken