What are 'Maintenance Expenses'?

Maintenance expenses are the costs incurred to keep an item in good condition. Apartments, homes, and condominiums have expenses, but who pays them? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Term of the Day | Words to Know Maintenance Expenses Maintenance expenses are the costs incurred to keep an item in good condition or good working order. When purchasing an item that requires upkeep, consumers should consider the initial price tag as well as the item's ongoing maintenance expenses. Maintenance expenses are a major reason why home ownership can be more costly than renting. In this article, we explore the various maintenance expenses that are likely to occur when renting a property or owning a condominium. Read More » Related to "Maintenance Expenses" Want a Chance to Win a FREE Investopedia Academy Course? How have you been investing during the current economic conditions? Tell us and you could win. Take Survey » The True Cost of Owning a Car When deciding whether to buy a car, make sure to factor in expenses like gas and insurance, or else you might underestimate how expensive owning a car can be. Read More » The Hidden Costs of Owning a Home From HVAC systems to extra insurance, there are many hidden costs of owning a home. Read More » SPONSORED BY US Bank Your Finances, Your Way Planning ahead is the key to reaching your goals. These tips and tricks can help you manage your money and make smart financial decisions. Learn More » What to Know Before Buying a Condo Understand the benefits and pitfalls of owning a condo. If you are a first-time home buyer, you should ask yourself: Are you the condo type? Read More » Related Definitions Renter's Insurance Renter's insurance is property insurance that covers a policyholder's belongings, liability, and possibly living expenses in case of a loss event. Read More » Security Deposit A security deposit is money that is given to a lender, seller, or landlord as proof of intent and may be used to pay for damages caused by a renter. Read More » Lifetime Cost Lifetime cost is the sum of all the costs, including the purchase price, of owning a particular item, such as a car, over the lifetime of that item. Read More » Budget A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Read More » CONNECT WITH INVESTOPEDIA Email sent to: mondemand.forex@blogger.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2020, Investopedia, LLC, All Rights Reserved | Privacy Policy