REALWorld Law


Ongoing costs of ownership

What costs/charges (other than tax) are payable by the owner of real estate and who are these payable to?



Costs and charges depend on the characteristics of the real estate. Generally, repair, maintenance and insurance costs, as well as utility fees, are payable. In the case of condominiums, common charges are payable (in some cases these include the cost of utilities).

As a general rule, these costs are paid by the owner of the real estate. However, where the property is leased, some or all of these costs are normally met by the tenant.