how much an individual pays in maintenance expenses depends on the type of asset and how often upkeep is required and performed individuals may incur maintenance costs for homes automobiles appliances and electronics while businesses pay for maintenance on their fixed assets vehicles equipment facilities and their technology 
keeping up to date with regular maintenance can keep costs down because the asset is serviced on a timely basis neglecting assets and waiting until the last minute to service them may result in higher maintenance costs if the asset isn t maintained at all the owner may have to replace it altogether special considerationsconsumers should consider the initial price tag as well as the item s ongoing maintenance expenses when they purchase an item that requires upkeep this is why it s always a good idea for any consumer to set some money aside for maintenance expenses failure to do so may result in financial distress when it comes time to pay for these charges in the future it s always a good idea to have money set aside for the regular maintenance of your assets types of maintenance expensesas mentioned above maintenance expenses depend on the type of asset held maintenance expenses for homes include lawn care plumbing electrical and roof repairs as well as replacement of worn out appliances homeowners must also pay premiums for hazard insurance 1 this expense protects the owner from damage to the home from natural events like severe storms fires tornados and earthquakes most of the maintenance expenses for a rental property are the landlord s responsibility snow removal sewage trash pickup lawn care as well as the sidewalks windows and any exterior expense falls to the landlord to pay if the apartment or rental home is furnished any replacement or repair of the furniture is the landlord s responsibility cleaning or replacement of any carpeting as well as painting is also paid for by the landlord 23government regulations require landlords to maintain certain safety and living standards for example the heat in an apartment building must meet minimum standards the infrastructure such as heating and ventilation must be adequately maintained by the landlord 4 some of the upkeep and maintenance may fall on the tenant the rental agreement should define what expenses are the renter s responsibility monthly fees are common for people who own condominiums condo fees can range from 50 to 1 000 depending on the property building and location if the building has a concierge swimming pool tennis courts or gym those costs are built into the monthly condo fee buyers who want maintenance free living should consider the monthly fees when calculating their affordability and the potential mortgage payment for the condominium if for example the mortgage payment is 1 500 per month while the condo fee is 600 per month the condo fee represents nearly 30 of the total monthly payments to live there example of maintenance expensesowning a vehicle requires regular maintenance oil changes tire rotation and engine flushes owners can enjoy their vehicles by keeping up to date with and paying for these expenses on a timely and regular basis people who don t maintain their vehicles or wait too long may have to pay more in maintenance and may even have to pay the replacement cost for a new vehicle 