How do I access CC/Maintenance charge? (apartments, co-op) - City-Data Forum

ToXicChiLL · 05-27-2010, 09:21 AM

I'm currently looking at 2 co-op units in Brooklyn Height. Both are 1Br around 725 sq ft. Both CC/ Maintenance includes all utilities. One building, it's 1200 a month and the other unit is 850. (appx). I think both are 50% deductible. Why is one so much higher?

bluedog2 · 05-27-2010, 10:57 AM

Are the buildings comparable too ? Similar size,condition,number of apartments,staff,amenities,etc ?

TheMachineStops · 05-27-2010, 10:59 AM

Different buildings would have different finances. One of the big contributors to high maintenance is a large underlying mortgage for the building. The share structure i.e maintenance per share, and # of shares for comparable apartments would also be different.

bluedog2 · 05-27-2010, 11:21 AM

Quote:

Originally Posted by TheMachineStops

Different buildings would have different finances. One of the big contributors to high maintenance is a large underlying mortgage for the building. The share structure i.e maintenance per share, and # of shares for comparable apartments would also be different.

Usually though,when one building is carrying a significantly above average debt load( or a significantly below average debt load) it is reflected in the % of tax deductibility.Since in this case the TD is 50% for both buildings it appears that the difference might be on the other side of the ledger....in building maintenance,salaries,etc.unless their is some property tax anomaly with one of the buildings.

ToXicChiLL · 05-27-2010, 12:39 PM

Quote:

Originally Posted by bluedog2

Usually though,when one building is carrying a significantly above average debt load( or a significantly below average debt load) it is reflected in the % of tax deductibility.Since in this case the TD is 50% for both buildings it appears that the difference might be on the other side of the ledger....in building maintenance,salaries,etc.unless their is some property tax anomaly with one of the buildings.

That's what I figured. I'm just afraid the cost of the maint on the more exp unit will continue to increase as their cost increases.

Thanks all for your input.