Your Maintenance/Common Element Fee
As owners, it is very important for you to understand your maintenance fee, also known as your common element fee. This fee is applied monthly (in addition to your mortgage payments) and is levied for the day-to-day operating budgets (fixed and variable expenses) of our corporation. A portion of this fee is also applied to our corporations Reserve Fund. A part of your maintenance fee is dedicated to Shared Facility Operating Budget and Shared Facility Reserve Fund contribution.The following chart represents the summary of how your monthly maintenance fee is distributed
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