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Property maintenance relates to the upkeep of a home, apartment, rental property or building and may be a commercial venture through a property maintenance company, an employee of the company which owns a home, apartment or a self-storage pastime for example day-to-day housekeeping or cleaning.
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
Building superintendents often get discounts in their rent or free rent plus a salary in exchange for their services. The amount of compensation they receive is usually proportional to the size of the building. The superintendent or resident manager may report to the landlord or a property manager for any problem outside his or her control.
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. This can include residential, commercial, and land real estate.
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Deferred maintenance is the practice of postponing maintenance activities such as repairs on both real property (i.e. infrastructure) and personal property (i.e. machinery) in order to save costs, meet budget funding levels, or realign available budget monies. The failure to perform needed repairs could lead to asset deterioration and ...
Besides your monthly mortgage payment — which you’ll likely be paying for 15-30 years, you’ll need to pay for utilities, maintenance, necessary home improvements, property taxes and ...