Q:

What are homeowner association fees used for?

A:

Quick Answer

Homeowners association fees typically cover services offered to residents by the HOA or the city it operates within, and insurance, maintenance and repair for the common buildings in the neighborhood. Lawn care and pest control services may also be paid from the funds collected from homeowners in the association.

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Full Answer

Homeowners associations typically exist within areas with condominium homes, town homes and planned developments. As of 2015, general fees per month typically range between $200 and $400, depending on the nature of the development and the amenities offered to residents. By pooling resources, these associations often allow for group use of leisure facilities, including swimming pools, recreation centers and fitness rooms. Gates, guards and surveillance equipment and alarms also comprise costs associated with these fees, giving residents better security for their money.

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