Glossary Of Real Estate Terms

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Maintenance:
Monthly charges paid by the owner or tenant of a cooperative building for that person's share of costs of keeping the common-use portions of the building in good condition. This includes the daily cost to operate the building and the salaries of the building staff.
 
Managing Agent:
A company that is hired to manage a property.
 
Mortgage:
Money borrowed from a lender unusually a bank. Mortgages vary in terms of length as well interest rates.