expensas

Expensas are the fees paid by unit owners in multi-unit buildings, such as condominios or comunidades, to cover the operating and maintenance costs of shared spaces and services. They are typically charged on a regular basis, usually monthly, and are distinct from individual property taxes or utilities charged for private units.

Expenses are generally divided into two main categories: expensas ordinarias and expensas extraordinarias. Expensas ordinarias cover day-to-day operating costs, including maintenance of common areas (hallways, stairs, roofs, gardens), salaries for building staff, cleaning, security, elevator upkeep, utilities for common areas, building insurance, administration and accounting fees, and a provision for routine repairs. Expensas extraordinarias fund larger or unexpected needs, such as major renovations, structural repairs, or significant improvements, and are typically approved by the owners at a general assembly.

Calculation and administration vary by jurisdiction but commonly depend on the unit’s participation rights (coeficiente de copropiedad) or another predefined ratio specified in the property deed. Budgets for expensas are usually prepared by a managing body and approved at an owners’ meeting, with the resulting amounts billed to each unit on a regular schedule. Late payments may incur penalties or interest, and persistent non-payment can lead to legal action or restrictions on services.

Expensas play a central role in the financial management of shared properties, balancing affordability for residents with the need to maintain building infrastructure, services, and property values. The specific rules and practices surrounding expensas can differ by country and local regulations.