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Maintenance fees to tenants?

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RealEstateJ | 12 Nov 2014, 11:05 AM Agree 0
I just bought a condo and I’m thinking of renting it out but I have a question. Does your tenant pay your condo maintenance fees or do I have to eat that cost?
  • Joe | 27 Nov 2014, 07:06 PM Agree 0
    You pay the condo fees you will have to add it to the rent.

    Joe
  • MagJoe | 02 Dec 2014, 03:03 PM Agree 0
    @Joe Let’s say I’m renting the condo for $1,450 and the maintenance fees are $600. How much of a percentage of the maintenance fee should I add to the rent? 40? Less, more? Is there a set percentage on how you should spilt that up?
  • | 11 Dec 2014, 12:55 PM Agree 0
    if it's not added in rent you pay,
    also if you charging market rent nothing you can do. if you try to add on top you may not be able to find tenants
  • Freedom Malhotra, Condo Planet | 12 Dec 2014, 09:15 PM Agree 0
    It is not that simple. You cannot just charge the maintenance fee to your tenants when no other landlords are doing that. That is a sure way of pushing tenants away!

    It is not customary for Landlords to charge extra for their maintenance fees so you cannot make up the rules as you go along. You have to follow the market trends if you want to attract good tenants. The maintenance fee is something landlords should consider as a cost of doing business just as they would factor property taxes and other costs.

    Typically, tenants pay the rent and the extra utilities that are not covered within the maintenance fees. The owners usually pay for property taxes, maintenance fees, mortgage and property insurance. The rent you charge is dictated by the market. If the going rate for a 2 bedroom condo is $1600, you cannot expect to succeed charging $1600 plus a portion of your maintenance fee. That would be absurd and not work.

    Investors should be doing this math before buying their investment properties. They should naturally be looking to see if the rent they can fetch will help them cover all their projected expenses. I hope this helps.

  • sergerybrin | 29 Jan 2016, 12:11 AM Agree 0
    You should add into the rent ....But the thing is that its not the compulsary the maintenance fee must be submit by tenant's if there is no fault of them ..You can't expect that they will pay the maintenance fee... ...Yes but when they leaving the room if there is some damage in room then you can charge from them.. it's legally.
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