What does the condo fee cover?

In the majority of the condominium neighborhoods your water, sewer, trash, elevator maintenance, cleaning interior hallways, heating/cooling of interior hallways, exterior building maintenance, landscaping, grass mowing, snow removal, reserve funds, management fees & a master insurance policy are all covered by the monthly condo fee.  

There are many expenses that go into keeping a condo building in working condition.  Everyone in the complex pay for the maintenance items listed above, if it's not properly maintained on a daily basis then an assessement can be issued to keep the property from going into neglect therefore causing more problems.

Some think the condo fee is a waste of money, some don't pay attention to where the money is being spent.  It's all accounted for one way or another.  Is some of the money wasted?  It can be, depends on your board of governors and who's running the show/voting on various items to fix or fluff items in the complex.  Anyone can go the monthly meetings and listen to what is happening and obtain a copy of the monthly minutes report. 

Having sold in the majority of the local condominium neighborhoods, I can tell you which ones have higher condo fees and which ones are more budget friendly.  If you're considering a condo purchase, make life easy on yourself contact me...Michael Phipps ~ "The Condo King"♚♔