If you’re soon to begin your condo living journey, learning about condo maintenance is a must. What is it and how does it work? Why do I have to pay monthly dues and how much will that be? Our real estate experts will answer all these questions and more!
What Does it Include?
In general, maintenance fees in condos cover the overall building maintenance and caring for shared spaces which include:
These are basically amenities everything condo residents enjoy that traditional house owners don’t.
Where Does the HOA’s Responsibilities End and Mine Begin?
The answer to this is your unit. If your wallpaper is peeling, faucet leaking, issues, and upkeep within your unit will be under your responsibility. Those days when you could call your landlord to have something in your home fixed are now over.
Everything inside your unit, from the front door, the ceiling, the windows, and the interior walls are yours to fix.
And everything from when you step out of your unit until you leave the building (or wherever your condo property ends) is under HOA’s care.
How Do I Minimize Maintenance and Repair Costs?
Take a preventive approach
Mark a day in your calendar to inspect and check for repairs, and repeat it in your schedule at regular intervals. Also make a checklist of what you need to look at. You can start with these items and add more as you see fit:
Make a quick sweep to see if everything is working properly or if anything needs to be repaired or replaced.
Try to solve problems as they arise to prevent them from growing into bigger problems (and bigger expenses) in the future.
What Else Is Counted in Association Dues?
What comprises of your monthly dues differ from condo to condo, but the most common are:
There are also other factors that could affect your total bill:
Many choose to live in condominiums mainly for their 24-hour security and even tight and high-tech systems . These services are all covered under maintenance fees.
If you’re single living alone or have small kids, you probably need to put security at the top priority. Condo living will bring you peace of mind. It will definitely help you sleep better at night, knowing there are systems in place to keep you extra safe.
Others opt for condo living for the posh and relaxed lifestyle it offers. Condo residents are happy to pay the extra buck for convenient amenities like a well-maintained pool, a clean playground for your kids, the gym just an elevator away, and many more.
Our real estate experts hoped that this guide has shed light on condo maintenance and how much of these fees cover your condo living expenses. Remember that your unit’s upkeep is part of your duties as a homeowner and that HOA maintenance fees are allocated for the care of the condo building’s common areas.