Understanding Incentives: Free Maintenance Fees for x Months

A free maintenance fee for “x” months (typically 12 or 24 months) is typically offered as a bulk payment on closing as a cash back (as opposed to a monthly credit).

For example – free maintenance fees for 24 months on a 700 square foot suite with maintenance fees of $0.50 per square foot would equal an $8,400 credit on closing.

700 x 0.5 = $350 per month

$350 x 24 = $8,400