What Do Condo Fees Include?

Some individuals and families decide that they cannot handle a large house so they purchase a condominium instead. Many people wonder what do condo fees include and the answer will depend on where the condo is located, what the condo board decides and how much the condo fees cost the condominium owner.

Some condo fees do not include certain maintenance work and this is what a potential buyer needs to be aware of before agreeing to a purchase. Finding out what condo fees include is good question to ask the condominium association that regulates the fees. A new condo owner does not want to get hit with special assessment fees, which are fees requested of the condominium owners for something such as a planned modification that is over budget or an unexpected repair that is not outlined in the monthly fees.

The majority of condo fees are also generally known as maintenance fees because they help to maintain the building. These are the fees collected monthly to pay for items around the building such as salaries of various workers. This could include a doorman, a groundskeeper, a handyman or maintenance crew or a concierge.

Condo fees could also be put towards special amenities or luxuries like a workout room, a swimming pool, a rooftop garden or a recreation room for private parties. A condo owner should know that the condo fees are subject to change, usually increasing with inflation.

A condo board of directors will hold meetings, either monthly or quarterly, to assess fees, talk about the building's condition and discuss any problems that may have cropped up since their last meeting. Although most board of directors will listen to complaints about fees, the condo owners do not have a vote on the issue.