Reply to Condo fees are ridiculous

Forum Index » Real Estate

Reply to "Condo fees are ridiculous "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]It really varies and their reasonability depends on what they cover.

I live in a small condo building and pay a little over $200/mo in fees. This covers trash/recycling, water, landscaping and maintenance of outdoor areas including parking area, roof maintenance, and maintenance of exterior doors, common stairs and lobby areas, and security equipment (locks, cameras, etc.). In 9 years, I have paid exactly one special assessment, for $200, to cover a capital improvement to a shared outdoor area for which we did not want to dip into the general fund because it was not a maintenance issue but an improvement.

People who live in large buildings with tons of amenities (gyms, pools, elevators, etc.) often have very high fees because those amenities are expensive to maintain. I assume people who pay those fees value those amenities enough to pay the extra $1k or more in fees to have them.

Some large older buildings can have extremely high fees because they were poorly maintained for many years and current residents are paying for rehabilitation of the building. For this reason, I would not buy a condo in a large, old building for this reason, and I would not buy a condo without looking into the history of special assessments and examining maintenance history to make sure I wasn't buying into a building like that. But usually you know up front because it will be like a 525k condo with $1800/mo condo fees, so not a surprise.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics