What is Common Charge (cc) for Manhattan New York condos?

By
Real Estate Agent with Douglas Elliman Real Estate

What is Condo Common Charge in NYC condo descriptions?

If you are a buyer looking at NYC websites to search for a condo, you will see "CC" in many of the condo descriptions or listing information. "CC” is an abbreviation for Common Charge in many of Manhattan New York property listings. Common charge in other parts of the country or world is known as Home Owner Association Dues.

In NYC, a condo owner of the condo unit is responsible for the monthly Common Charge. Typically condo common charges includes the salary of the building staff, operational expenses of the condo common space such as hallway, elevator, lobby, amenities(if any), each units water, gas usage, cool and hot air (the heating and cooling system will vary depending on the building).

Manhattan New York condominiums common charge does not include any Real Estate taxes or underlying building mortgage.

Unlike condos, Manhattan cooperative(Co-Op), there will be a “Maintenance charge” instead of “common charge”. Please note that there is a difference between Maintenance charge and common charge due to the differences of cooperative and condominiums. Co-op monthly maintenance fee is a total of the monthly cost of that particular cooperative unit, which includes the allocated shared building carrying cost, real estate taxes of the cooperative unit, underlying mortgage of the cooperative and etc.

Common Charge monthly bill usually is sent by the condo management on the monthly basis. Owners can make an arrangement with the condo management to pay in advance the common charge if the owner is not local based or will be traveling for a period of time.

If the condo owner uses the condo as an investment or rental property, the owner of the condo is responsible to pay for the monthly common charge not the tenant. It is also advisable that in case of the default of common charge by the tenant, the owner may be liable for additional penalty cost or other serious consequences enforced by the condo management.

Call us today (917)837-8869 and we can discuss your specific Manhattan NY Real Estate needs, if you would like to search for a condo and not sure where to start, we would encourage you to contact us today.

Posted by

 ____________________________________________________________________________

 

Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
New York New York County Manhattan Midtown East
Groups:
I Love NY
Condo Benefits
Prudential New York
Condo Specialists
Tags:
cc
common charge

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the leaf to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
1,422,870
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Eileen,  great explanation of common charges and maintenance charges in Manhattan.   Another reason any buyer desiring to purchase needs to call YOU!

Apr 19, 2012 06:28 PM #1
Rainmaker
533,769
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Common Charge is a good term, very much like the Home Owner Association dues.

Apr 19, 2012 06:38 PM #2
Rainmaker
1,487,432
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Authentic Feng Shui Expert

I agree Commo charge is very non threating and I'm about peace :)

Apr 19, 2012 07:52 PM #3
Rainmaker
826,011
Jeffrey DiMuria 321.223.6253 www.SpaceCoastHomesNow.com
Fontaine Property Group - Melbourne, FL
Your Space Coast Real Estate Expert!

makes sense...thanks for the clarification on how the fees work with condos and coops.

Apr 20, 2012 11:04 AM #4
Rainmaker
398,596
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

You descriptions are always very clear! Thanks Eileen!

Apr 20, 2012 03:46 PM #5
Rainmaker
1,468,146
Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)
Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Eileen, This is a terrific explanation of the difference between Common Charges and Maintenance fees...Nicely done!

Apr 24, 2012 04:57 AM #6
Show All Comments
Rainmaker
659,250

Eileen Hsu

LICENSED REAL ESTATE SALESPERSON
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information