Originally Posted by wrendog
So, I heard this rumor that HOA fees at City Creek are insane. .77 per square foot. That would be 800 bucks a month for a 1000 sq foot condo. Is this true? That is absolutely ridiculous if so. Could explain the slow sales numbers...
I won't say that's not high- but I am the HOA pres. of my community of 50 homes and our HOA fee is $165/month and that just pays for exterior maintenance, lawn care, the pool/clubhouse and water/sewer/garbage/cable. Even that seems high, but it really costs that much to maintain and pay for everything.
For that reason it isn't too shocking to me that a high-end condo would have a much higher HOA fee considering all of the amenities and the expensive nature of everything that is included. A condo HOA pays for insurance, many utilities, lots of common space (you usually only actually own your condo from the paint in, the rest of the building and structure are insured and maintained by the HOA) They are also probably paying a lot of professional staff, security people, etc.