Q:

What fees are generally included for property management in condo associations?

A:

Quick Answer

Condo association fees generally include property and building maintenance, building insurance and utilities, as stated by Investopedia.com. These fees do not include special assessments that the condo board may vote to add from time to time. Special assessments are one-time fees for unexpected repairs or maintenance.

Continue Reading

Full Answer

Condominium owners have to pay a small percentage of the monthly costs for maintaining their building. These fees vary depending on how large the condo is and its location in the property. These fees are meant to cover a variety of property maintenance issues, but are all rolled into one monthly payment. Condo fees help keep the property mowed, the driveways plowed in winter and even cover the costs of utilities such as water and trash removal, as stated by Style at Home.

Learn more about Real Estate

Related Questions

Explore