What is considered cheap for condo fees?

Condominium associations develop a budget each year to pay the anticipated operating costs of the condominium community in the next year If you live in a condominium community with zero amenities, your assessments must at least cover: your master insurance policy -- unless the owners are willing to own un-insured real estate assets landscape expenses -- unless there is zero landscape to maintain payments to reserves -- unless the association's owners can pay tens of thousands in special assessments when major replacements must be paid for accounting services -- unless there is no record for assessments that are paid, no one pays the association's bills or prepares its annual tax return basic utilities -- unless all utilities are billed to individual owners and there is no need for electricity, water, sewer or gas in the common areas salaries -- unless there are no employees of the association; or preventative maintenance -- unless there is none performed on the building(s) and so forth So 'cheap' will be relative Every condominium community is different from every other condominium community. Each is a private democracy that operates, depending on the composition of the board Your treasurer can supply you with a copy of the budget -- a portion of which you pay monthly in assessments, based on your percentage of ownership -- and you can work with the treasurer to help reduce your annual assessments by offering ideas about ways to save expenses.

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