What is included in a Condo Fee?

Condo fees cover various expenses related to the maintenance and management of the building and its common areas.

• Landscaping.
• General upkeep of the exterior of the building.
• Repair and maintenance of shared amenities such as swimming pools, fitness centers, elevators, and parking lots.
• Master insurance. Typically, the condo association insures the building's structure and common areas. This insurance coverage provides protection in case of accidents, natural disasters, or other unforeseen events that could cause damage to the property. Condo owners are responsible for insuring the contents of their units separately.
• Management services are also a part of the condo fee. These services include hiring and overseeing property managers, administrative staff, and security personnel.
• The reserve fund. Fund is set aside for major repairs or replacements, such as replacing the roof, upgrading the HVAC system, or repaving the parking lot.
• May also include some utilities such as Water, Sewer, Cable/ Internet. It is important t check the condo documents throughly to verify if any utilities are included in Condo Fees and are ppaid by the association.