Fraser Valley Real Estate Video Blog #66 - April 28th 2010
Maintenance fees are just that......Maintenance Fees!
Frank Mihal video blogs to clear up a misconception that some people have about strata maintenance fees. Frank talks about a buyer who was stunned about a building he was interested in that needed a new roof was going to cost the owners money. He was under the assumption that the strata was going to pay for it from the maintenance fees. Maintenance fees are for maintaining the building and to keep a small reserve for smaller repairs. Any larger repairs such as exterior work, new roofs, or costly repairs come directly from the owners pockets as a special levy. If you have any questions or comments about maintenance fees, feel free to contact Frank at http://www.FrankMihal.ca
