Maintenance Variables
Started by UES_Ida
over 9 years ago
Posts: 76
Member since: Oct 2015
Discussion about
Looked at some apartments in a building recently (444 e 75th) and the maintenance seems to be all over the place. One apartment is bigger and on a higher floor and has a lower listed maintenance than one below it that's smaller. Outdoor space for the one with lower maintenance is actually bigger, too. Other past sales' maintenances seem to be similarly randomly set. Any ideas why this is? Sign of bad management? Mistakes by brokers?
Share count in the original Offering Plan needs to be set "rationally and reasonably". There is no set definition of what that is. There are some older Coops where maintenance on 2 BR units isn't all that much more than studios because back when the plan was first introduced relative prices were not nearly as different as they are now. Once the share count is established, it doesn't change.
Thanks. I guess that explains it, although still seems weird and arbitrary to have a bigger apartment on a higher floor have a lower maintenance than one smaller and lower. Any thoughts on this building generally?
maintenance gets charged according to the shares, only. the shares were set when the offering plan was submitted in 1981.
It could have to do with combinations or (recombinations) of units. Share designation happens at the time of conversion.
If one of the apartments had been broken up into several smaller units (say, a couple of studios and a one-bedroom from an original three-bedroom apartment) when the co-op was originally established, and then later recombined, the recombined apartment would likely have a higher share allotment than a unit of the same footprint that had been intact since conversion.