Prestige Evergreen Maintenance Charges are paid by the owner of an apartment in a
community to upkeep the shared areas and amenities in the project. It is collected to keep a
clean and functional common area during the ownership of the property. These charges are
collected as an annual or monthly maintenance charge based on the association. At Prestige
Evergreen, the maintenance charges are kept at the lowest. It is shared by all property
owners once they take ownership.
Major factors to know to understand the Maintenance Charges:
- Maintaining Shared Areas: The collected money as a maintenance charge is used to
maintain the common areas and shared facilities in the project, including lifts, corridors,
parking lots, gardens, gyms, amenities, and security.
- How Costs Are Divided: The maintenance charges are collected by house owners based on
several major factors. It is, in general, calculated on the basis of the size of the apartment
units and the number of residents in a home. The homeowner's organization (HOA)
determines the rules and maintains the project.
- Role of the Homeowners Association (HOA): The Homeowner's Association is established in
a community to keep a safe and healthy community. The members of the associations will
be in charge of planning a budget and charges and are responsible for maintaining the
project's common areas and amenities.
- Creating a Spending Plan: The Homeowners Association in an apartment community
creates a planned annual budget to utilize the maintenance fees in a productive way. It
includes the expenses for repairs, gardening, security, events, and other required services.
Homeowners will receive completed data on the breakdown of these charges.
