Condominium communities offer residents convenient living free of homeownership hassles. Residents pay monthly fees that include utilities, grounds keeping and building maintenance. In high-price real estate markets such as Washington, D.C., and San Francisco, California, condominium fees range from $150 to $500 dollars per month and up, depending on community age and services provided by the condo association.
Condominium fees vary based on community age. Generally speaking, the older a community, the higher the cost of building maintenance. For example, condo fees in communities requiring major repairs such as roof and heating/cooling system replacement are higher than fees in newer communities.
Condominium fees vary based on services provided by the condominium association. Condo communities provide grounds keeping, exterior building maintenance, trash pickup and snow and debris removal. Fees also include maintenance of on-site physical fitness centers and recreational facilities such as swimming pools and tennis courts.
Utility Market Price
The market price of utilities such as water, gas and electric can affect condo fees. As utility prices rise, so do condo fees. Condo community members are encouraged to attend condo board meetings to voice their opinions and vote on proposed condo fee increases resulting from utility price increases.