Whats Covered by Condo Fees?
Just like you want to know whats included in your policy for home insurance in Los Angeles, the same is true if you own a condo and have to pay fees. Know that a lot more than you might think is covered by those fees you pay every month.
It takes money to pay for maintaining the pool, walkways, parking garages, landscape, laundry rooms and other common areas inside and outside your condo building. Your fees also go towards shoveling snow, the buildings HVAC system and keeping gutters clear.
Trash, sewer, water and other utilities have to be taken care of. You might also need to pay for internet, cable and electricity.
Because the system you use to buzz in guests can sometimes be on the fritz, your fees might be needed to make repairs. There might also be security guards in your building who need to be paid.
Just like you have your own home insurance in Los Angeles, theres likely another policy that covers shared common and exterior areas in your condo building. Your fees help pay for that policy, which might offer extra protection from natural disasters common to your geographic area.
Now that you know better about whats covered with your condo fees, you might not mind paying them as much every month. If you have any other questions, be sure to ask your HOA.