Repairs and Maintenance definition
Examples of Repairs and Maintenance in a sentence
Repairs and Maintenance – The agreement should clearly layout the landlord and tenant’s responsibilities to maintain the dwelling unit (i.e., keep the premises clean, changing the batteries in a smoke detector, maintaining the yard, etc.).
Each year, as part of the Annual Plan and Operating Budget delivered to Owner, Manager shall propose and prepare a budget for expected and reasonably necessary Routine Repairs and Maintenance.
The cost of such Routine Repairs and Maintenance shall be paid from Gross Revenues.
It is Owner's intent that the sums allocated for Repairs and Maintenance in accordance with the then current Annual Plan are to be fully expended during that Fiscal Year exclusively for the purposes identified in such Annual Plan.
On 1 January in each Contract Year, the Rates and Other Rates will be adjusted based on percentage movements in the most recently published Indicator Indices for changes in the cost components of Wages; Capital Costs; Administration, Overheads, Repairs and Maintenance; and Workers Compensation during the 6 month period that ends on the previous 30 November (Review Period).