Why are SW DC condo/co-op HOA fees so exponentially expensive

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've lived in a couple SW co-ops. I loved paying one fee to the building each month and no other bills. No tax bill, no water bill, no electric bill, no cable bill, etc. I'm paying almost $1200/month and I feel like I get my money's worth.

Add that all up and it doesn’t come close to $1200.

I didn't list it all. I get elevators, underground parking, acres of landscaped grounds, 24 hour front desk service, package delivery, in-unit maintenance, swimming pool, all utilities, cable, and internet. A big chunk of the fees goes into reserves which are very high. Put it all together and I think I get what I pay for.

“Acres” of landscaped grounds? In DC?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've lived in a couple SW co-ops. I loved paying one fee to the building each month and no other bills. No tax bill, no water bill, no electric bill, no cable bill, etc. I'm paying almost $1200/month and I feel like I get my money's worth.

Add that all up and it doesn’t come close to $1200.

I didn't list it all. I get elevators, underground parking, acres of landscaped grounds, 24 hour front desk service, package delivery, in-unit maintenance, swimming pool, all utilities, cable, and internet. A big chunk of the fees goes into reserves which are very high. Put it all together and I think I get what I pay for.

“Acres” of landscaped grounds? In DC?

Our co-op is on 8 acres. Lots of green space.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've lived in a couple SW co-ops. I loved paying one fee to the building each month and no other bills. No tax bill, no water bill, no electric bill, no cable bill, etc. I'm paying almost $1200/month and I feel like I get my money's worth.

Add that all up and it doesn’t come close to $1200.

I didn't list it all. I get elevators, underground parking, acres of landscaped grounds, 24 hour front desk service, package delivery, in-unit maintenance, swimming pool, all utilities, cable, and internet. A big chunk of the fees goes into reserves which are very high. Put it all together and I think I get what I pay for.

what sort of in unit maintenance does it cover?

Depends on the building. I lived in a coop that basically covered maintenance of everything in your unit that was either original or still at "original standard." The coop I live in now only covers original elements and not elective replacements (e.g. if you replace your floor, it becomes your responsibility to maintain), but it does cover pipes, mechanical, HVAC, and some electric. However, even for stuff the coop doesn't cover, the in-house staff can usually do the work for a nominal charge. Instead of having to find and hire a contractor, all I have to do is put in a ticket in BuildingLink.

[Anonymous]

I owned a coop for several years and then a condo.

My coop maint was around $580 for a one bedroom. That was 1999. But it included a lot. It was a high rise building. I did not have a parking spot. That was extra. No pool, or gym.

It did cover, lobby, elevators, laundry rooms, storage room, snow removal, our little park in back, property taxes, heat, water, gas for stove. All maint including windows on unit, door to unit. We had a 24/7 super on premise. I did not even have an insurance policy on unit as no need other than theft.

My condo I currently own but rent out is $350 a month for a two bedroom. But I have to pay own heat, own water, own gas, own property taxes. And condo does not cover window replacement or HVAC replacement. Also more work, in condo heat went out, window broke magically fixed in condo I am on my own.

The 24 hour super in coop used to charge $15 an hour for repairs if not the coop issue.

[Anonymous]

Also coop fees can be largely tax deducatable unlike a condo

[Anonymous]

They include property taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It includes your share of property taxes. That right there easily explains $400-600.

I’ve also been told that the SW condos has full service maintenance and it basically covers everything - plumbing, HVaC, Windows, doors, walls, electrical, etc.

No way, $400-600 a month in taxes is ridiculous for a $300K condo!

Yes it is ridiculous And taxes are only included for co-ops. The amenities they offer do not justify the high condo/ fees and you are responsible for in-unit maintenance. And let's hope your unit comes with a parking spot because street parking is a rarely available and paid parking is expensive. Former Carrollsburg Condo owner.

[Anonymous]

Anonymous wrote:Also coop fees can be largely tax deducatable unlike a condo

The property tax component of the fee is deductive, as is interest paid on an underlying mortgage held by the coop. However, DC coops are unlike NYC coops in that underlying mortgages are relatively uncommon.

[Anonymous]

I live in one of the SW co-ops and I used to hate the high fees, but I've come around. As others have pointed out they include taxes, utilities, internet, cable, most maintenance, gym, indoor pool, reception to handle packages and, yes, acres of lovely green space. My kids have about half a football field in the "backyard," plus trees and fountains. It's great.

We live in a townhouse, which feels like any other fee-simple townhouse, but the instant something needs repairs I just notify management and it's taken care of, often the next day, and usually without a fee. If there's follow-on repairs, like the time a pipe burst damaging the walls and floor, management arranges and covers those fixes as well. There's definitely some premium over handling everything yourself, but once you add it all up, it's not that much, and at this point my time and sanity are more valuable to me. If it's not for you, and you want to handle everything on your own, good for you.

[Anonymous]

Anonymous wrote:What is special about city life that's worth $1200 per month in wasted money down the drain? I'd get fed up, leave and move to a low cost of living state/suburb. $1200 per mo. is ridiculous. You could easily use that to help max out your retirement accounts instead.

Well, there's all the stuff that makes a city, you know, a city...

The proximity to bars, restaurants, museums, concerts, public transit, other people, etc.

$1,200 is a downright bargain in my opinion. What good is $1,200 when you have to trade hours of your life in your car every day? What good is $1,200 when the only place to spend it is Applebees and Sizzler? What good is $1,200 when you can never have more than two beers when you go out or risk a DUI? What good is $1,200 when you can't even enjoy your weekends because there's always a lawn that needs mowing or a house that needs fixing? What good is $1,200 when all your friends live in the city and you never get to see them, and every "conversation" with the locals in your low cost of living one stoplight town is just you having to hold your tongue while they spew ignorant, racist, garbage?

[Anonymous]

Anonymous wrote:I live in one of the SW co-ops and I used to hate the high fees, but I've come around. As others have pointed out they include taxes, utilities, internet, cable, most maintenance, gym, indoor pool, reception to handle packages and, yes, acres of lovely green space. My kids have about half a football field in the "backyard," plus trees and fountains. It's great.

We live in a townhouse, which feels like any other fee-simple townhouse, but the instant something needs repairs I just notify management and it's taken care of, often the next day, and usually without a fee. If there's follow-on repairs, like the time a pipe burst damaging the walls and floor, management arranges and covers those fixes as well. There's definitely some premium over handling everything yourself, but once you add it all up, it's not that much, and at this point my time and sanity are more valuable to me. If it's not for you, and you want to handle everything on your own, good for you.

Yup, the convenience of having maintenance come by right away when you find the neighbors upstairs have a leak on the afternoon of Christmas eve is really worth it. Plus, it's really pretty and uncrowded waterfront greenspace is very nice right now. https://www.harboursquare.coop/

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live in one of the SW co-ops and I used to hate the high fees, but I've come around. As others have pointed out they include taxes, utilities, internet, cable, most maintenance, gym, indoor pool, reception to handle packages and, yes, acres of lovely green space. My kids have about half a football field in the "backyard," plus trees and fountains. It's great.

We live in a townhouse, which feels like any other fee-simple townhouse, but the instant something needs repairs I just notify management and it's taken care of, often the next day, and usually without a fee. If there's follow-on repairs, like the time a pipe burst damaging the walls and floor, management arranges and covers those fixes as well. There's definitely some premium over handling everything yourself, but once you add it all up, it's not that much, and at this point my time and sanity are more valuable to me. If it's not for you, and you want to handle everything on your own, good for you.

Yup, the convenience of having maintenance come by right away when you find the neighbors upstairs have a leak on the afternoon of Christmas eve is really worth it. Plus, it's really pretty and uncrowded waterfront greenspace is very nice right now. https://www.harboursquare.coop/

I was interested till I saw the crime stats.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is special about city life that's worth $1200 per month in wasted money down the drain? I'd get fed up, leave and move to a low cost of living state/suburb. $1200 per mo. is ridiculous. You could easily use that to help max out your retirement accounts instead.

Well, there's all the stuff that makes a city, you know, a city...

The proximity to bars, restaurants, museums, concerts, public transit, other people, etc.

$1,200 is a downright bargain in my opinion. What good is $1,200 when you have to trade hours of your life in your car every day? What good is $1,200 when the only place to spend it is Applebees and Sizzler? What good is $1,200 when you can never have more than two beers when you go out or risk a DUI? What good is $1,200 when you can't even enjoy your weekends because there's always a lawn that needs mowing or a house that needs fixing? What good is $1,200 when all your friends live in the city and you never get to see them, and every "conversation" with the locals in your low cost of living one stoplight town is just you having to hold your tongue while they spew ignorant, racist, garbage?

Yes. There are no restaurants outside the District of Columbia other than Applebee’s and Sizzler.

And you call other people ignorant. Saving $1,200 a month and not having to live with parochial people like you sounds like a double bargain.

[Anonymous]

As Treasurer of a condo complex on last four weeks approved. Fall cleanup lawns, blow out sprinklers, switch flood lamps to leds as lights are going out anyhow, sewer police quarterly clean out bill, approve snow removal bill. And a $42,000 bill for insurance renewal. Add in managing agent fees and CPA costs these are all bills with nothing breaking or a Capital improvement

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in one of the SW co-ops and I used to hate the high fees, but I've come around. As others have pointed out they include taxes, utilities, internet, cable, most maintenance, gym, indoor pool, reception to handle packages and, yes, acres of lovely green space. My kids have about half a football field in the "backyard," plus trees and fountains. It's great.

We live in a townhouse, which feels like any other fee-simple townhouse, but the instant something needs repairs I just notify management and it's taken care of, often the next day, and usually without a fee. If there's follow-on repairs, like the time a pipe burst damaging the walls and floor, management arranges and covers those fixes as well. There's definitely some premium over handling everything yourself, but once you add it all up, it's not that much, and at this point my time and sanity are more valuable to me. If it's not for you, and you want to handle everything on your own, good for you.

Yup, the convenience of having maintenance come by right away when you find the neighbors upstairs have a leak on the afternoon of Christmas eve is really worth it. Plus, it's really pretty and uncrowded waterfront greenspace is very nice right now. https://www.harboursquare.coop/

I was interested till I saw the crime stats.

I've lived down here and never been impacted by crime.