Skip to website navigation Skip to article navigation Skip to content

7. Property operating expenses

Property operating expenses can be specified as follows:

 

2023

2022

Property (and related) taxes

15

14

Landlord levy

-

2

Property management costs

9

9

Maintenance costs

45

45

Fitting out costs

5

6

Letting and marketing fees

4

4

Miscellaneous operational costs

11

9

Total

89

89

Operating expenses, including non-recoverable service charges, amounted to 25.2% of gross rental income in 2023 (2022: 26.1%).

Taxes consist primarily of property taxes. The property management costs, letting and marketing fees are management expenses allocated to the property operating expenses.