Definition of "Maintenance Fee"

Robert Anarumo real estate agent
Robert Anarumo, Real Estate Agent Florida Realty Marketplace

Periodic expenditures undertaken to preserve or retain a property's operational status for its originally intended use. These expenditures do not improve or extend the life of the property. It is an expense, which is distinguished from capital improvements which are capitalized. Examples are the cost of fixing a sprinkler system or painting wall.

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