Shared expenses come in the form of a monthly association fee. Many people feel that this fee is pointless but I would argue that, for what you get, condo fees are a bargain.
Consider my monthly fee of $325.00. This is on top of my monthly mortgage payment. Everyone in the building pays a fee calculated based on provisions in the DC Code. The Board of Directors of the building does not set the fee. Most of the fee derives from the association's expenses and is more if you have more square footage.
So, for my $325.00 per month I pay for:
- All building common utilities (hallway lights, outdoor lights, water in the community laundry room, gas for the stoves and dryers.) The only utility bill I pay myself is my own electricity usage.
- All regular building maintenance (weekly cleaning, monthly pest control, lawn care, trash removal, snow removal)
- All building repairs (repairs to damage caused by 'common elements' such as a leaky roof, painting/general upkeep, replacing things like the garden hose if it leaks, changing the locks as needed, etc)
- Master insurance policy premium
- Master savings account
- Management company to handle the contracts/services and pay the bills
It's easy to forget just how much it takes to run a building, especially an old building, and even a building without 'luxury' amenities such as a pool, weight room, or concierge.
I don't have exact numbers, but I can't imagine how paying for all utilities, lawn care and supplies (even if you don't outsource), repairs, pest control, etc would come to too much less than $325 per month for a single-family home that would most likely be 4-5 times the size of my condo.
And let's not forget the convenience factor: my association fee is auto-debited from my bank account every month and the services magically happen. I don't have to worry about finding or scheduling contractors for repairs. I don't have to do any of the lawn care. Snow and trash remove themselves. Bills get paid on time and in full. Maintenance happens sometimes without me even noticing.
Condo living - and fees - comes with a community aspect that is really nice for someone like me who lives on their own and would prefer to share some expenses with others. If the roof starts leaking a group of people put their minds together, vendors are at the ready - many of whom have more knowledge of this building than I do - and I benefit from living with a community of people who want the best for our awesome home.








