Source: Wall Street
Author:Zhao Ying
The cost of apartment maintenance has risen sharply due to the increase in electricity, maintenance and management fees and the wages of front desk staff. This means that the resident budget needs to be increased by an additional $900 a year.
In the United States, apartment maintenance costs have risen sharply due to increases in electricity bills, maintenance management fees and front desk staff salaries.
The average monthly maintenance fee set by the association of apartment owners rose 19% from a year earlier to about $451 in August, with residents' budgets increasing by an extra $900 a year, according to Zillow Group, a real estate market information platform.
The cost of maintaining apartments in the United States has soared to about $450 a month, partly due to higher prices for almost all goods as a result of inflation and labor shortages. At the same time, due to the epidemic, more people work from home, and apartments are maintained and repaired more frequently.
In addition, the collapse of an apartment building north of Miami in June drew attention from the homeowner management association to apartment safety standards.
According to community association data, about 74 million people in the United States live in communities managed by homeowners' associations, accounting for about 35 to 40 per cent of the total. The owners' association has the right to decide what services to provide and the cost of community maintenance.
In the cost of apartment maintenance, facilities and construction years play an important role in the rate, and the intermediate rate varies greatly in different urban areas.
New York City has a large number of old houses, which cost more to maintain than new buildings, and the average monthly maintenance fee is much higher than in other parts of the United States. In august, the city's expense index rose 22% from a year earlier to $948.
In San Francisco, many residents left the city during the outbreak, and apartment maintenance costs began to fall a year ago. In August, the median monthly fee fell 6.3% to $454.