Q.Fill in the blank and justify: The regular monthly amount collected from members of a housing society to meet the cost of upkeep of common property and services is called __________.

A housing society's work does not end when the building is ready; keeping it in order needs a steady flow of money from members.

The correct term for the blank is maintenance charges.

After a housing society's building is ready, the society must keep the common property and services in good order — the structure, staircases, lifts, water tanks, gardens, roads, lighting of common areas, cleanliness and security. All this costs money on a continuing basis.

To meet this cost, the society collects a regular (usually monthly) contribution from every member, known as maintenance charges. These charges:

1. Meet the running cost of common services — water, electricity for common areas, salaries of watchmen and cleaners, and minor repairs. …

Students sometimes write 'share capital' or 'entrance fee'. Those are one-time sources of the society's funds; maintenance charges are the recu …