Sentences with phrase «condominium fees»
"Condominium fees" refers to recurring payments that owners of a condominium unit need to make to cover the shared expenses associated with the maintenance, repairs, and management of the building or complex. These fees contribute to services like cleaning common areas, landscaping, building insurance, and overall upkeep. Full definition
If applicable, this sum should also include half of monthly condominium fees.
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Those may include loan discount points, origination fees, interest rate buy downs, closing cost assistance, payment of condominium fees, builder incentives, down payment assistance or monetary gifts.
Once a submission has been made, it can be very difficult to add any charges to cover outstanding tax liens or unpaid condominium fees if they are not properly disclosed at the outset.
The total amount of the mortgage payments (principal and interest), heating costs and property taxes (and condominium fees when applicable) divided by the total gross income.
There may be other expenses, such as condominium fees, homeowners fees, special assessments, etc., that are included.
Monthly condominium fees are charged for condo owners for use of common property and building expenses.
He represents businesses, developers, and individuals involved in real estate litigation, including construction, land use, environmental issues, insurance coverage actions, and collection of condominium fees.
Authored amicus curiae brief for Real Estate Bar Association of Massachusetts (REBA) in Supreme Judicial Court case of great economic significance to condominiums, in which the right of associations under the condominium statute to impose successive liens on owners who withhold condominium fee payments was upheld by the SJC.
Average condominium fees for a unit with indoor parking stood at $ 358 on the Island of Montreal (compared to $ 207) and $ 272 per month in the Quebec City CMA (compared to $ 175).
In large concrete buildings, the Montreal CMA has the highest average monthly condominium fees at $ 287.
The Quebec Federation of Real Estate Boards (QFREB) has released a study of condominium fees in the province.
He recently authored an amicus curiae brief to the Massachusetts Supreme Judicial Court in a case of great economic significance to condominiums, in which the right of associations to impose successive liens on owners who withhold condominium fee payments was upheld by the SJC.
On the other hand, if a condominium's annual reserve fund contribution is «higher than natural», this will mean «higher than natural condominium fees», and the condominium will tend to build up an excessive reserve fund balance as the years go by.
In the Quebec City CMA, average monthly condominium fees stood at $ 139.
The Montreal Census Metropolitan Area (CMA) registered the highest condominium fees, as co-owners paid an average of $ 198 per month.
Condominium management involves exercising condominium corporation powers or performing condominium corporation duties for a condominium corporation, including collecting condominium fees or levies, enforcing condominium bylaws or rules, entering into contracts and supervising contractors for a condominium corporation.
Torontonians will pay the most in monthly condominium fees with 72 per cent willing to pay more than $ 200 a month.
(1) Percent of mortgaged owner - occupied housing units spending 30 percent or more of household income on selected owner costs such as all mortgage payments (first mortgage, home equity loans, etc.), real estate taxes, property insurance, utilities, fuel and condominium fees if applicable.
The total amount of the mortgage payments (principal and interest), heating costs and property taxes (and condominium fees when applicable) plus all other contractual debts of the borrower divided by the total gross income.
The average condominium fee for the province as a whole is $ 193 per month.
The Gatineau, Quebec City and Sherbrooke CMAs registered average monthly condominium fees of $ 195, $ 176 and $ 152, respectively, while the Trois - Rivières and Saguenay CMAs posted more affordable results at $ 117 and $ 101 per month, respectively.
You need to agree with the seller about how expenses related to the property such as taxes, water and sewer charges, condominium fees, and utility bills, are to be divided on the date of settlement.
No less than 44 per cent of investors who took possession of new units in 2017 were in negative cash flow — that is their rental income fell short of the amount needed to cover their mortgage payments and condominium fees, according to the study by CIBC and Urbanation, a market analysis firm.
GROSS DEBT SERVICE RATIO Percentage of your gross income that will be used for monthly payment of principal, interest and taxes, heating and condominium fees, if applicable.
Standard charges include: adjustment for property tax prepayment, utilities and condominium fees, if any, made by the vendor; property land transfer tax; property insurance; and legal fees.
The percentage of the borrower's gross income that will be used for monthly payments of principal, interest, taxes, heating costs and condominium fees.
The result should also be that the condominium fees are at a normal or natural level for the particular condominium, which arguably makes the most sense for marketability of the units.
The Condominium Lease is similar to a Residential Lease but also addresses issues unique to the rental of a condominium, such as the landlord's obligation to pay the condominium fees, and making sure tenants adhere to rules set out by the condo's HOA.
Tom understands all of the rules and current practices relating to such items as property tax adjustments, community fee charges, condominium fees and special assessments, title insurance, home inspections, real property reports and neighbouring encroachments.
The woman moved out, but she continued to pay the mortgage, condominium fees, property taxes and insurance amounting to about $ 1,600 per month.
For our purposes, these numbers were pulled from the U.S. Census, and «housing costs» include «mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees.»
(1) Percent of mortgaged owner - occupied housing units spending 30 percent or more of household income on selected owner costs such as all mortgage payments (first mortgage, home equity loans, etc.), real estate taxes, property insurance, utilities, fuel and condominium fees if applicable.
Consider the overall amount of money you will pay for your home, including property tax, money for your security system, and condominium fees, for instance.
The largest difference was observed in the Gatineau CMA, as units with an indoor parking spot had average monthly condominium fees of $ 377, compared to $ 223 for those without a parking spot.
The Gatineau and Quebec City CMAs followed closely with average monthly condominium fees of $ 286 and $ 235.
In each of the CMAs examined, condominium fees were higher in buildings that were built more than 15 years ago, due to the additional expenses required for the building's maintenance and renovations over time.
For new units, average monthly condominium fees were $ 165 in the Montreal CMA, ranging from $ 181 on the Island of Montreal to $ 113 on the South Shore.
These fees could include city property taxes, school taxes, monthly condominium fees, utilities and insurance.
GROSS DEBT SERVICE RATIO Percentage of your gross income that will be used for monthly payment of principal, interest and taxes, heating and condominium fees, if applicable.
Standard charges include: adjustment for property tax prepayment, utilities and condominium fees, if any, made by the vendor; property land transfer tax; property insurance; and legal fees.
Consider the amount of mortgages, taxes, condominium fees, utilities, garbage collection, maintenance, and repairs incurred during the failed FSBO listing.
That elegant penthouse in d.c. that you have been eyeing might cost you a lot more than you budgeted when you put into account monthly condominium fees.