I received a letter from one of my recent readers who wanted to know if condos are maintenance-free. So I thought others might be interested.

Condominiums are attractive to homebuyers because they offer freedom from the perpetual burden of maintenance obligations that are associated with single-family homes.   Condominiums appeal to the buyer who wants a trouble-free investment, an “easy living” lifestyle. But do you really get to leave everything to the condo board?   How much will you have to participate in the operation of the condo to ensure your own peace of mind and the security of your investment? Let’s read the fine print and take a closer look at the sales pitch promise of “maintenance-free” condo ownership.

When you purchase a condominium, you have individual ownership rights within the boundaries of the walls of your unit.   You share ownership of the common property of the condominium development and pay a monthly fee that covers the expense of maintaining the “common element”, which includes roof, plumbing, interior spaces such as lobbies, stairs and elevators, and exterior features such as swimming pools and landscaping. Monthly fees are based on the unit factor, which is calculated in proportion to the value that your individual condo unit has in relation to the total value of all units in the condominium.

Condominium documents outline the precise boundaries of individual units and the rights and obligations of all parties. Every condominium corporation is different. What is a common element in one may be part of the unit in another. For example, an exterior wall may be part of the common element in one condominium and part of the individual unit in another.

The structure of responsibility for maintenance can vary among condominiums. Examining the condo’s governing documents will tell you which maintenance duties belong to the individual unit owner (you) and which will be handled by the condo corporation.

Most condominium corporations contract out the daily operations of the building to a property management company that is supervised by the condominium’s Board of Directors. Some condo corporations manage the daily building and grounds maintenance within the corporation and are referred to as “self-managed” condos, with resident owners or members of the board carrying out the tasks of operating the condominium complex.

The corporation typically covers the cleaning of common areas and payment of common area utility bills, the maintenance of plumbing, electrical systems that are common to the entire building, and operation of the central hot-water heating and air conditioning systems. They will make repairs to exterior walls and the roof and replace broken windows. They will clean common areas, parking lots and recreational amenities, groom and water the grounds and remove garbage and snow.

          Maintenance obligations assigned to individual owners might include upkeep of plumbing, appliances, heating, air conditioning and electrical systems that serve only your unit. If you enjoy exclusive access to your own balcony or patio, you may be required to clean it. And even if the exterior window surfaces are regularly cleaned, you might be expected to wash the windows inside your condo!

          Absentee owners may have maintenance requirements that differ from owners living in the building. When purchasing any condominium, the wisest first step is to learn about your rights as an owner and find out what your maintenance obligations will be.

James Sarles – Let’s Talk Real Estate: President of Coldwell Banker James Sarles Realty; an Estate Agent specializing in high-end luxury ocean-front and canal properties. James has a BS in Business and Psychology, and a background in marketing and advertising. He was born in Buffalo, New York and first came to The Bahamas when Tourism asked for his marketing assistance. He met his wife on that trip and still resides in Freeport today with their teen age son.  James is very involved in community; an active Sunrise Rotary member, as well as helps with many other charity groups on Grand Bahama. He is the founder of a Big Brother program for orphans or trouble teens through his Rotary Club, of which he is still active today. He can be reached at james@sarlesrealty.com