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What are “annual operating expenses”?
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Annual operating expenses are the normal costs required to run the community each year.
These include things like:
• Insurance
• Landscaping
• Utilities
• Management
• Maintenance
• Routine repairs
These are the basic costs needed to operate the community, similar to a household’s regular bills such as electricity, groceries, and insurance.
They do not include unexpected emergencies or large long-term replacements such as resurfacing the pool, replacing roofs, or rebuilding amenities. Those types of projects are typically planned for separately through savings and reserves.
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