Condo Maintenance Fees

Condo maintenance fees are set by the Board of Directors who is elected by a majority of the condo owners. The fees are based on the projected financial needs of the association for the upcoming year.

By law a reserve fund to cover future capital improvements is included in the fees. Future capital improvements cover such things as replacing the roof, exterior painting, parking lot resurfacing, etc.

A typical budget for a condo association will include insurance on the structures, salary for a resident manager as well as groundskeepers and maintenance personnel, trash collection, water, common element electricity, the reserve fund and other line items.


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