Reviewed by Aug 27, 2020| Updated on
Maintenance expenses are the expenses made to retain the property or material in good condition. When you purchase an item that requires regular maintenance, you must consider the maintenance expenses along with its price tag to calculate the actual cost of that item.
Understanding Maintenance Expenses
Maintenance expenses can be seen in owning vehicles and housing properties. The existence of maintenance expenses can sometimes make the affair of owning a house costlier than renting it.
Maintenance expenses in vehicles include replacing parts, servicing, change of oil, and engine repair. Maintenance expenses in houses include plumbing and electrical alterations. Maintenance expenses are borne by the owners.
If you are a landlord or own a factory, you must abide by the government policies to maintain a safe place for people, i.e. tenants and workers. Some of these standards for a house owner are related to infrastructures, such as heating and ventilation, electric wiring, sanitation, and more.