Question about maintenance

From the listing: " ***Maintenance is currently $1,237/mo. Owner is offering a credit of $250/mo for 12 months at the closing which is reflected in the advertised reduced maintenance fee."

Maintenance rebates have always been bullshit. A cheap truck. It ends up being a closing adjustment. It's a lie to get you in the door. It's a huge red flag. It's an admission saying "we know the maintenance is too high." It's virtually a guarantee that if you buy the unit that you will have trouble selling it when the time comes.

Back when I managed the Greenwich Village of JI Sopher we would get calls or walk-ins from owners at 77 Bleeker Street asking for a price opinion. If would tell them "Just look in the Offering Plan. Whatever the original Insider Price was, That's what your apartment is worth now."

The response was always "Oh no when I bought my unit I got a bargain. It's got to be worth a lot more now." Many of them got maintenance rebates and low prices. In most buildings, If you're getting your maintenance rebate at a low price, there's a reason for it. And that reason isn't going to go away, but it's time for you to sell.

@multicityresident - Ha! Didn't read the full annoucement - thank you

@30yrs Thanks for that - yeah, it does seem gimmicky and not at all an inducement to buy if you're sticking around for the foreseeable future. Cheers

Broker probably did it to make sure the unit is showing up in searches where buyers filter by maximum maintenance. Very misleading, I wish SE did not allow this.

@Krolik - I didn't think of that. You're right, they shouldn't allow it. Wouldn't it be easy enough to automate? The moderator would get an alert every time maintenance went down. Maintenance is maintenace, with or without temporary concessions.