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Old Posted Sep 21, 2018, 3:50 PM
Jim in Chicago Jim in Chicago is offline
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Join Date: Jul 2014
Posts: 360
Originally Posted by DePaul Bunyan View Post
$800 is insane for a property that you supposedly own. It's like adding rent on top of property taxes and a mortgage.
Originally Posted by Jim in Chicago View Post
That $800 isn't out of line. Assuming the square footage is correct, that works out to $0.56 per square foot, and that building has door staff. I'm in a sort of similar building without door staff (which is a huge expense) and I'm paying $.54 per square foot, so about the same. That goes to: maintenance of common spaces, interior and exterior, garbage service, RCN 50mpg internet and basic cable, DVR included, payments into a reserve fund. Taxes and insurance on the common spaces, professional management services. Security system and maintenance on 2 elevators. The only special we've had was 10 years ago when we did roof replacement and city-mandated work on the building facade in the same year. The owners pay their own gas and electric - they run under $100 in the cold months, and more in the summer with the AC running.
No, it isn't, did you see the list of stuff that the assessment pays for? My homeowners insurance alone is a fraction of what it was when I owned a house. I added everything up before we moved, and the total outlay is less than we were paying for various services and utilities on the house. A roof replacement on the house cost the equivalent of at leave a couple years assessment on the condo.

Originally Posted by 10023 View Post
What the hell are you renting for $800/mo?

That seems pretty fair for common charges and maintenance to me. I’ve looked at 2 bedrooms in Brooklyn where the monthly maintenance is over $2k.
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