What are the charges imposed on units to fund operations referred to as?

The charges imposed on condominium units to fund operations are commonly referred to as maintenance fees. These fees are essential for the ongoing management and upkeep of the condominium, covering costs such as utilities, repairs, landscaping, and amenities. Maintenance fees are typically collected monthly from unit owners and play a crucial role in ensuring that the property remains well-maintained and financially stable.

Other terms like service charges or operational dues might be used in various contexts, but maintenance fees specifically denote the regular financial contributions that owners are responsible for to support the day-to-day functioning of the condominium community. Understanding this terminology is vital for anyone involved in condominium management and operations, as these fees directly impact the overall health of the condominium corporation's finances.