how do condo fees work

 · In general, these are some of the costs that can be covered by HOA fees: City services: Services such as trash removal, water and sewage are often covered. Insurance: This only includes insurance for damage to the outside of the building and the property around it. You still need an individual insurance policy to cover everything inside the condo.

Buyers Week: A Condo Fee Tutorial – UrbanTurf – There really aren’t "normal" condo fees because as the writer pointed out you really have to research what is included in the condo fee. In my condo bldg, we have a staffed front desk and fee covers HOT water. For some older bldgs, heat may be covered if generated by steam. Also, my condo fee is based on the square footage of your unit.

What do Condo Fees Cover? – Money We Have – If you’re thinking about buying a condo, you’ve probably asked what do condo fees cover? Generally speaking, condo fees (or strata fees) cover building maintenance, amenities, and utilities. condo fees aren’t cheap but it’s the price you’ll have to pay if you want to buy a condo. The.

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Buying a condo differs from buying a co-op – How do my husband and I get the process started? buying a condominium is a bit different from acquiring a detached or.

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Learn Condo Insurance 101 with these FAQs | Trusted Choice – Does Condo Insurance Cover Mold? Most home and condo insurance companies specifically exclude mold from their policies. However, you still may be able to successfully file a claim with your condo insurance company under certain circumstances. For example, let’s say you go on vacation and while you are away a pipe bursts.

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5 Reasons to Avoid Investing in Condos Due to Condo Fees. – A condo is managed by a group of condo owners (the condo’s board of directors) who make all the decisions about how the condo fees collected from owners will be spent to maintain and improve the property. The downside of this idea is that in many cases bad management can lead to a low quality condo property.