Here’s Why High-Rises Also Have High Maintenance Fees

It’s no secret that high-rises in South Florida are the definition of luxury—and maintaining that luxury is no small feat.

High-rises in hot areas like Miami and Fort Lauderdale are known for their beauty, security, and breathtaking views, so it should come as no surprise that such extravagance comes with a pretty hefty price tag too.

If you’ve ever taken a look at what it costs to live in one of these high-end residences, you might have wondered what’s included in these higher-than-average maintenance fees.

Let’s take a look at some of the most important factors of some of South Florida’s hottest locations, and whether or not they may be worth your next investment.

1.    Amenities

First, let’s explore some of the amenities many high-rises have to offer, including gorgeous pools, lively in-house eateries and bars, and super-tight security. Other amenities like cable, internet and valet parking also come standard in your maintenance fees to live in an exclusive Fort Lauderdale or Miami high rise.

These amenities are certainly convenient for residents, however, in no way are they’re not cheap to offer and maintain! Between the rising cost of service calls, cleanings, and other employee and supplies expenses, it’s no wonder these fees start to add up—and add up fast.

2.    Insurance

Next up is a non-negotiable no matter where you live in South Florida or otherwise. When it comes to general maintenance, few expenses are as high as the cost of maintaining the insurance policies necessary to keep a luxury high-rise running like a well-oiled machine.

High-rises are required to hold Master Policies for the building’s exterior as well as coverage for anything that happens within the walls of the building. There’s also liability insurance in case of an accident, as well as umbrella insurance to cover almost everything else. In fact, a single high-rise may have multiple policies to keep the building and everyone in it safe, which can be pretty pricey when you’re talking about million-dollar homes in areas with high property taxes.

When it comes to building safety, there’s no skimping on coverage allowed. A definite plus when it comes to luxurious living in SoFlo. 

3.    Ambiance

Lastly is atmosphere—yes, you read that right! Ambiance as in, “the character and atmosphere of a place.” You may not know it, but your fee also includes certain intangibles like the atmosphere of the residence when you first enter the grand lobby.

There’s a reason most people would prefer a high-rise to a shabby apartment building, and that’s partly because of what I like to call “the pricelessness of presentation.” Everything from the concierge’s uniform and plant selection to the wall accents and even the gentle music of the indoor waterfall all make up the ambiance of a South Florida high-rise.

None of these elements alone can catapult a building into high-rise status, however, together (when also paired with an unbeatable location), every detail works in tandem to give residents a living experience a step above the rest.

As with anything else, you always get what you pay for and maintenance for high-rises are no exception to that rule. To learn more about how you can invest in your very own high-rise paradise, click here to contact your local Realtor® Hector A. Valdes today.

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Jessica Gervais

Real Estate Writer for LuxSouthFloridaHomes.com