what is typically included in a maintenance fee?
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- I understand the reason for maintenance fees for condos. My wife and I are considering relocating to Houston and buying a single family house. It seems many single family homes have maintenance fees. If there are property taxes and I take care of my own property what is the maintenance fee for? - Oct 05, 2013
8 answer(s)
About 10 years ago
The cost to maintain any common areas including any subdivision amenities will be included in HOA fees. Most HOAs will have some reserve if something unexpected happens such as litigation or replacement of signs. The HOA dues can be much higher if security is hired or if there are controlled access gates. If the roads are private, then that is an additional cost. It depends on the subdivision. I hope this helps...
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DislikeAbout 10 years ago
Maintenance fees are assessed for the common areas of condominiums, town houses, and single family neighborhoods. The fees cover everything to keep the common areas functional and legal.
In condominiums and town houses there are sometimes an additional special assessment fee to cover major repairs and/or updates that the regular maintenance fees are insufficient to cover. These can sometimes be very costly.
In single family neighbor hoods the maintenance fee is usually referred to as a HOA fee and is paid annually as opposed to monthly.
In condominiums and town houses there are sometimes an additional special assessment fee to cover major repairs and/or updates that the regular maintenance fees are insufficient to cover. These can sometimes be very costly.
In single family neighbor hoods the maintenance fee is usually referred to as a HOA fee and is paid annually as opposed to monthly.
About 10 years ago
Typically a condominium fee will cover:
-Water and sewer costs
-Roof replacement and repair
-Exterior siding/gutters maintenance or repair
-Landscaping
-Homeowners insurance policy on the exterior and or the structure of the condominium building, leaving the homeowner responsible for insurance on the interior of the unit and personal property
-Water and sewer costs
-Roof replacement and repair
-Exterior siding/gutters maintenance or repair
-Landscaping
-Homeowners insurance policy on the exterior and or the structure of the condominium building, leaving the homeowner responsible for insurance on the interior of the unit and personal property
About 10 years ago
maintenance fees, Can cover street lighting, Swimming pools, walkways, playground. safety patrols among other things.
About 10 years ago
The fees are different for each community. It's listed on the MLS what is covered. Typically the higher the fees the more amenities you get. For example, if you live in a building with a valet and concierge service the fee is much higher than those that don't have them.
About 10 years ago
As stated, maintenance fees are generally used to cover common areas. What's covered can sometimes vary based on the development. It never hurts to ask the development for a list of what is covered.
About 10 years ago
Condos by their nature have common elements to all the owners, and these need to be maintained, repaired, insured, etc. The monthly fees are used to pay for the common area of the building, landscaping, elevator service, custodial services, security, insurance, pool maintenance, recreational amenities, management, water, trash pickup service, and sometimes other utilities, etc.
The maintenance fees are based on each units "Interest In Common Elements" the larger units will pay higher fees, naturally.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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