How to calculate the maintenance cost of An Apartment ? Apartment management tutorials -Day-2

 Day -2 

Dear Friends,

Thanks, you very much for enroll this program of “Apartment management tutorials “

Today we shall learn; How to calculate the maintenance cost of an Apartment /Flat ?

 

For New Apartment /Flat /Cooperative society, the builder is usually in charge of the overall maintenance, and it is his responsibility to disclose this cost to the home buyer, at the time of buying the property. Before the project is completed, the builder must take charge of maintenance expenses and afterward, transfer it to the association or society.

While buying a house, maintenance charges are one of the common future problems that home buyers fail to consider. Maintenance charges are decided, only after the builder decides the amenities, finish and quality of the building and value-added services that the builder aims to deliver in the project.

Below are few methods of calculating maintenance charges. 

There is no foolproof method to calculate the maintenance fee that an owner should pay the apartments owner association. Every model has its own pros and cons. The residents’ society should decide which model works best, depending on the apartment complex and implement it accordingly. Further, a half-yearly meeting should be conducted to discuss the possibility of the plan and to cut down any charges that are levied needlessly

 

1.   👉1. Equal Maintenance Charges:

This is the simplest way to collect maintenance charges where a fixed amount is charged on all apartments. It works well in apartments complexes having same sized flats. This is one of the unfair methods for complexes have different size of apartments as the small apartment owners’ end up paying an unfair amount of maintenance.

 

2.       👉2. Per Square Feet Charge:

Per square feet method is the most used method for calculating maintenance charges for housing societies. According to this method, a fixed rate is charged per square feet of the area of an apartment.

For instance, the rate per square feet maintenance charge for an apartment complex is Rs. 2.0 per sq feet per month. Therefore, if someone owns an apartment of 1000 sq. ft, then the maintenance charge is Rs 2000 per month. And by the same calculation, a person owning an apartment of 2000 sq. ft would pay a maintenance charge of Rs. 4000 per month.

3.       👉3. Hybrid Method

 

A hybrid method is implemented by some resident’s societies in order to be fair to the large apartment owners. This method includes splitting the charges into two with the first part including all the common expenses like common electricity, audit fees, meeting charges, property taxes, lifts etc. The second part includes the area-based charges that are specific to the apartments such as electricity usage and water bills.

👇Find here the My video Link for the same Topic - Pl click on this Link. 

👉How to calculate the maintenance cost of your apartment - https://youtu.be/3N7N8qZu-1o

#Howtocalculatethemaintenancecostofyourapartment#Persquaremeter#hyridmethod#sizeofapartment