Condo maintenance fees is one of the unexpected expenses when a couple calculates their financial planning. Condo fees and HOA fees pay for some of the same operating costs, although they're not exactly the same. Security companies charge $15 per hour and up for guards. Condo maintenance fees are distributed among all the co-owners according to the distribution formulas indicated in the declaration of co-ownership. The maintenance fee for condo is a monthly charge that owners must pay to manage, maintain, and upkeep the whole strata property. It’s not uncommon for special assessments to be upwards of $10,000. As a homeowner, there’s a lot of bills that you’ll have to pay every month, such as the home loan and utility bills. If you are researching condos to purchase, be sure to not only ask how much the monthly maintenance fee is, but what is included in that fee. Many condo and HOA bylaws provide the association with the power to levy fines against members, though associations use fees and fines for different purposes. Remember, you will need to pay the maintenance fee every month that you own the property. Approximately 35 to 45 per cent of condo fees cover utilities such as gas, hydro and water – items that are always over and above your mortgage and tax payments, … The average condo maintenance fee in Toronto is approximately 65¢ per square foot. Everything depends on how well-managed a building is. ? Please consult your tax advisor. The amount of your condo maintenance fees depends on the size of your home. Sometimes in a condo building a big surprise service or upgrade needs to be made—the roof needs to be repaired or the heating and air-conditioning needs to be replaced. Here’s what you need to know depending on your real estate investing strategy. In terms of amenity and maintenance fee value, this topped my list. Condo maintenance fees growth for the first 3 years after registration is a typical situation for many of Toronto condo owners. It’s definitely one of the lowest maintenance fee Square One condos and boasts very good amenities at its well-known Grand Ovation Club. The last thing you want as a house flipper is to get stuck with a $5,000 special assessment to replace a roof. Condo home insurance is not mandatory, but it is a smart way to protect yourself. NMLS ID #1125207 - nmlsconsumeraccess.org. While that doesn’t impact typical landlords or house flippers, it does impact vacation rental owners. If all else is equal, and one condo includes a gym covered by their condo maintenance fees, why would buyers pay equal maintenance fees for fewer amenities? Disclaimer: The above is provided for informational purposes only and should not be considered tax, savings, financial, or legal advice. Use comps to analyze property values and get a sense for local monthly maintenance fees across many condo communities. In the next chapter of The Condo Buying Process, we talk mortgages. As a flipper, you aren’t going to own the condo for very long. For example, the condo association takes care of roof repairs, exterior wall repairs, and foundation repairs. Getting a status certificate of the building could prove to be … What is the Maintenance Fee? While a condominium could still register a lien at 3 months, this proposed extension would provide a condo board with an opportunity to exercise its discretion in light of the financial hardships that unit owners may be experiencing as a result of COVID-19 without unit owners incurring additional costs, which may place a financial burden on the condominium as a whole. New flooring and paint? 2 Full Bath, In A Well Managed Building Low Maintenance Fee, It Includes Cable Tv, New Floors, Amazing Facilities, Including 24 Hour Concierge, Tennis Courts And Squash. The Condo Act sets out what can be defined a common or shared area but it essentially relates to all costs that are related to managing and maintaining areas that are not privately owned, like the lobby, corridors, party rooms, driveway, which are specified in the condo’s Declaration or Condo Docs. Condo maintenance fees will affect you differently, depending on whether you’re a landlord or a condo flipper. In the previous chapter of our 10-part First Time Buyer's guide, we added up the costs of buying a condo in Toronto in 2019. Your first question should be “Will buyers scoff at the monthly maintenance fees, or are they reasonable and similar to nearby comps?”. and get a sense for local monthly maintenance fees across many condo communities. depend on whether you flip or buy and hold. This is a guide to the price per square foot & maintenance (HOA) fees per square foot of condos in Kakaako, includes 2 luxury condos in neighboring Ala Moana – Park Lane and One Ala Moana.. Our approach: 1) Analyze market value of the lowest priced stack to most expensive stack around the 20th floor of a given building and use such data points to quote price per square foot ranges. According to research by Trulia, the average housing association fee, which includes condo association fees, is $331 per month in 2017. A portion of your condo fee is set aside in a reserve fund, which every condo board must maintain as a savings account for big-ticket items that inevitably arise. Condo fees or maintenance fee in a condominium apartment building can cover heat, hydro, water, cable, common elements, window cleaning, pest control, landscaping, exercise, gym, pool, tennis, squash, billiards, concierge etc. Because you’re a real estate investor, this exercise is more geared to helping you choose marketable properties to flip or rent, since you won’t be living there yourself. Co op maintenance charges are different from condo common charges in that NYC property taxes are already included in the maintenance fee. Recurring or special assessments pose a larger risk for landlords than for flippers. All calculations and information shown here are for illustrative purposes only. Be sure to ask the condo association how often they charge assessments, whether it’s regular or only charged on rare occasions, and ask for a list of the last ten assessments charged. A chunk of your condo fee goes to utilities such as water, hydro and sometimes heat – but this isn’t always the case. While you have removed the burden of calling a few companies for outside maintenance and paying them separate checks, you have added one new bill. Other than the maintenance fee, strata owners are also required to contribute to the sinking fund which is normally at the rate of 10% of the total amount of charges. I used to live in a condo in Mississauga and my condo fees were 475 a month, I never thought twice. Fees are charged based on the square-foot size of the unit. The Grand Ovation condo was the 3rd instalment by Tridel and was built in 2008. Building insurance does not cover your suite or personal belongings, however. While scheduling a regular payment is easy enough, be sure not to fall behind on your monthly fees. First-time condo buyers and even long time owners are often confused by maintenance fees. One of the most common complaints of condo owners are maintenance fees. © 2017 LendingHome. A roof replacement can cost upwards of half a million dollars, so this fund is essential. The ongoing maintenance fees of your condo (barring some sort of special arrangement with your MCST). Remember, you will need to pay the maintenance fee every month that you own the property. “What else am I paying for?” “Condo fees are a total rip-off!” If the home you’re looking at qualifies as a townhouse condo, there will be an association that governs the development. For instance, a condo building with higher monthly fees will attract high-end buyers and investors. Most of all, make sure the fees won’t serve as a deterrent to prospective buyers, or you may find your flip sitting on the market for six months with no movement. The maintenance fees you pay each month have an indirect effect on the value of your condo. contribute to your reserve fund and pay for maintenance of common areas in the building Unlike house flippers, landlords are stuck with condo maintenance fees for the long haul. However, when you’re purchasing a condo, … Let’s compare….Monthly Condo Maintenance Cost Vs Home Ownership Costs. The following are a few facts about condo maintenance fees that you must be aware of: The ongoing maintenance fees of your condo (barring some sort of special arrangement with your MCST). Condo insurance costs range from $20-50/month. Condo maintenance fees are a monthly fee that condo owners must pay to the strata which covers certain maintenances and utilities. The mortgage is for $556,740 (540k + mortgage insurance of $16,740 with an interest rate of 3.25%). If the condo community has shared amenities, such as a pool, gym, tennis courts, or parking area, these are also maintained through flat maintenance fees. As a final note, some condo associations charge quarterly, annual, or special assessments, in addition to monthly maintenance fees. Maintenance: With a house, the homeowner will have to take care of any maintenance, whereas condos include maintenance fees that cover landscaping and (sometimes) exterior maintenance on the unit. An association uses fees to cover maintenance and upkeep on its holdings. Everyday I show condos, the FIRST thing I hear is “I have to pay how much of a monthly maintenance fee?” Well…all I can tell you is that some people just don’t get it. Pandemic busters: 15 ways to have fun this winter. We explain interest rates, mortgage pre-approval, mortgage brokers and much more. Condo maintenance fees is one of the unexpected expenses when a couple calculates their financial planning. It’s a shared pool of money that helps the building pay for expenses throughout the year. The median price of a condo in Toronto is around $580,000. Here is a simplified breakdown of a fairly efficient condo to use as an example. As a prospective condominium buyer, your job is to gauge the value of a unit’s condo maintenance fees. If your payment is not received by the 10th of the month, a $25.00 late fee will be added to your account.. Payments can be made with a check, money order or electronic auto pay. Some condos will have contributions of the maintenance fees go toward utilities such as water and heat, some will even include hydro and air conditioning, or internet and cable. Maintenance Fees Maintenance fees at condominium complexes can range significantly in price; inexpensive complexes in rural areas can cost as little as $10 per month, while maintenance fees at high-rise condo towers in urban areas can approach $1,000 per month. It helps if the fees cover visible amenities, such as a gym, pool, or security guard. The monthly maintenance fees that you have to pay as an owner can dent your budget. If you earn rental income from a condominium unit, you can deduct the expenses that you would usually deduct from rental income. You’d want to put aside $316 a month to pay for that. Monthly maintenance fees pay for communal services and building upkeep (more on that shortly). Condo maintenance fees are a monthly expense which all condo unit owners pay. You'll see this stat used on condos.ca to evaluate buildings, condos that are for sale, neighbourhoods and the city itself. Only owners who have a parking space pay the additional maintenance fee for the garage or parking space. And remember to always ask exactly what the condo maintenance fees include, when comparing different condominiums. And unlike HDB, your MCST is not okay with people putting off payment. The association take on certain headaches for the owner, but every condo owner in the community shares the cost of outsourcing those headaches, whether they want to or not. The most common options for long-term mortgages include conventional lenders, local community banks, and online portfolio lenders. There’s no way around them—condo maintenance fees, or often referred to as Homeowner’s Association Fees,  are simply a reality of owning a condominium. Depending on the local municipality, and on the condo association, trash collection and sewer usage fees may also be included in the monthly maintenance fee. Maintenance fees are a very important consideration when you're serious about buying a condo. Lifestyle. If you can’t pay your $80 conservancy fee, HDB will chase you for it, and you will probably end up paying…well, the same $80 two or three months later, if you’re in real financial difficulty. Because the owner isn’t responsible for exterior repairs or groundskeeping, there will be less in the way of renovations for you to tackle as an investor. Maintenance: With a house, the homeowner will have to take care of any maintenance, whereas condos include maintenance fees that cover landscaping and (sometimes) exterior maintenance on the unit. Condo fees go toward providing the owner with a lifestyle that they desire – a maintenance free, amenities filled, attractive home. Boulevard 88 ($1,200 per month) As the only condo on this list that is yet to be built, Boulevard 88 … Let's assume you've paid your lawyer and hopefully enjoyed your first-time-buyer rebates. Likewise condo maintenance fees must be included with rental investors’. That falls to you. Toronto property tax pays for public schools and libraries as well as emergency services, running water and waste treatment. The average cost of condo fees. When you’re renting a condo , you don’t need to consider this monthly fee separately from, or in addition to, your monthly rent because your landlord is paying this condo fee. Or utilities could be charged individually based on separate meter readings. And even if you are buying your condo from New Homes Condos, you must always enquire about the same or for pre construction condos Toronto as well. Our sample condo is 800 square feet and its maintenance fees are $512 per month (800sqft x $0.64). As with single-family houses, LendingHome covers up to 90% of the purchase price, and 100% of the renovation costs. The fees are based on the projected financial needs of the association for the upcoming year. Condo maintenance fees, also referred to as homeowner's or condominium association dues, are levied monthly on most condo owners. “A sinking fund is a reserve fund collected from the strata owner for future expenditure which is typically less predictable and cost a lot more than the usual maintenance fee. The fee is calculated based upon the square metres of each individual unit, so owners with larger units pay … All rights reserved. So if those things are included in your monthly maintenance fees for your condo, what are you complaining about? “What do my maintenance fees pay for?” and “How are my fees calculated?”. Then I bought my first house, and within 4 months was amazed at the 3years I was ripped off by condo fees. However, it might take a while to sell off the units in such a building because of high fees … The more amenities a property has, the higher the maintenance fee will be. . Ask their opinions on whether the condo fees are worth the cost. Generally, these insurance policies don’t cover interior damage, such as a pipe bursting within your condo and causing water damage. Although condo townhouses are cheaper, it may have the approximately same monthly payment as freehold townhouses – since it would require a maintenance fee and a mortgage payment. Men noemt dit de ‘maintenance fee’ of de ‘common area fee’. 5 min read 3 days ago. Maintenance fees are also referred to as common area expenses or condo fees. When you’re renting a condo, you don’t need to consider this monthly fee separately from, or in addition to, your monthly rent because your landlord is paying this condo fee. How much are the maintenance fees for a condo across the street compared to this one? You probably won’t, but you should. When a resale condo has a parking space attached to the unit, it is priced into the sale price. If for example, a condo fee is $250 per month, the annual cost of $3,000 might be small in comparison to the cost of a large home repair. Price: $549,900 / $1736/mo **Monarchy Condos** Bright, Spacious 2 Bdrm + Den(Can Be 3rd Bedroom) Excellent Layout. Condo fees. An association uses fees to cover maintenance and upkeep on its holdings. The common area fee, or CAM fee, is a monthly maintenance fee paid by every owner of a unit in a condominium development. Nobody wants to pay condo fees, but the reality is that every building has to cover a certain amount of work, condo maintenance and services such as: janitorial staff, security, property management, and condo management software like ours. Any structure-related damage is typically covered, such as a building-wide fire. An apartment can be owned as an individual condominium, or it can simply be a rental unit among many others in an apartment building. Likewise condo maintenance fees must be included with rental investors’ cap rate calculations. Your options for financing condos depend on whether you flip or buy and hold. MAINTENANCE FEE. They cover necessary expenses for the regular maintenance of common areas of the building: window washing, pool and lawn maintenance, snow removal, painting the stairways, small repairs, etc. LendingHome provides bridge loans for buying, renovating, and either flipping or refinancing condos. The words “apartment” and “townhouse” are not legal terms, but rather names for physical structures. But monthly maintenance fees do represent an additional cost that investors need to incorporate in their calculations. This insurance covers some—but not all–of the hazards covered by traditional homeowner’s insurance policies. If your home is a co-op, expect to pay a pretty hefty maintenance fee every month.. What exactly is a co-op maintenance fee, and why are they often more expensive than condo common charges?. Maintenance fees are a very important consideration when you're serious about buying a condo. And unlike HDB, your MCST is not okay with people putting off payment. G. Brian Davis is a real estate investor who has owned dozens of investment properties over the last 15 years. An additional cost of owning an apartment or condo is their monthly maintenance fees. The payment term is 25 years. Read our complete guide to flipping condos for a broad overview of what you need to know before making an offer on a condo. It adds to your, and should be accounted for when determining, Because the owner isn’t responsible for exterior repairs or groundskeeping, there will be less in the way of r. for you to tackle as an investor. BOUNCED CHECKS If a personal check is returned for insufficient funds, an additional $25.00 fee … Your property tax bill is based on the municipal tax rate, education tax rate, and the value of your property. Pool, Indoor/Outdoor Hot Tub, Sauna, Massage Room, Gym, Juice Bar, Home Theatre, Party room, Playground/Terrace,… Appliances and other interior fixtures also aren’t covered. In other words, are they worth it? Keep in mind that the maintenance fee quoted to you prior to closing on a co-op may change and fluctuate over the course of your co-op ownership (See differences between condos, co-ops and condops).. If you purchase a parking spot or a locker there will be an additional flat fee added to your maintenance fees. In Toronto, the average maintenance fee is about $0.64 per-square-foot. A well-managed condo reserve fund is the best protection against special assessments, but it’s important to know about them and to have a financial plan ready in case one comes a-knockin’. Ideally, the condominium board dips into the condominium corporation's reserve fund to pay for major work. As with single-family houses, LendingHome covers up to 90% of the purchase price, and 100% of the renovation costs. We used a 600k example in the previous chapter where we counted the costs of buying, so we'll stick with it here. Let’s take a closer look. Het bedrag wordt meestal berekend op basis van het aantal vierkante meter dat je condominium groot is. Everything inside the walls of your condo is your responsibility. We take a closer look at mortgages in the next chapter, What is a Mortgage? If the cost of the large-scale project goes over the reserve fund, the condo board turns to the condo owners and charges a special assessment. They go towards everyday building costs like cleaning and concierge staff, and a percentage are put away for maintenance and repairs. The monthly costs will cover managing and maintaining gardening, garbage collection, common areas, recreation facilities, management as well as a certain portion channeled into the contingency fund. The general rule of thumb is that your monthly maintenance fees are calculated in direct proportion to the square footage of your condo as well as the costs related to the utilities and amenities available to all residents in the building. While they can still use hard money loans for the initial purchase and renovation, upon completion landlords must refinance for a long-term mortgage. Bijvoorbeeld 50 baht per m2 per maand. The same logic of the community-wide insurance applies to maintenance: you’re responsible for maintaining the interior of the condo. It all depends on the service or repair in question. Also your responsibility. The specific type of coverage depends on the building and what they have decided. NMLS ID: 1125207 Terms, Privacy & Disclosures. But there’s a monthly upkeep fee. In many cases, this is not the correct conclusion. The Condo Building’s Status Certificate. Parking spaces in condos do get sold separately and can cost anywhere from $10,000 to $100,000, depending on the building. The monthly fee covers the cost of the upkeep of the buildings, grounds, … Updating the kitchen and bathrooms? Depending on the local municipality, and on the condo association, trash collection and sewer usage fees may also be included in the monthly maintenance fee. It’s worth pausing here to note the difference between a condominium, an apartment, and a townhouse. If you'd like to know more, we explain the value price-per-square-foot analysis here. Your monthly mortgage payment will depend on the size of your down payment, your mortgage rate, and your amortization period. Does the condo have a resident manager? It’s an ongoing expense and can’t be ignored. They make the flat maintenance fees easier to swallow for buyers, which in turn, helps the condo sell faster. After all, someone has to maintain the building’s roof, right? Then there’s the Special Assessment. The above pictorial shows the steady increase in maintenance monthly fee that Toronto residents have seen between 2010 and 2019. Monthly maintenance fees nearly always cover exterior structure insurance as well. Our fee example uses price per square foot. You can also deduct condominium fees that represent your share of the upkeep, repairs, maintenance, and other current expenses of the common property. The average cost for parking in a condo is $46/month. The cost of special assessments in condos could amount to anything, potentially. Does the condo have a security guard? Finally, consider that a condo fee of $475 per month is equivalent to about $100,000 in purchasing power with today's mortgage products. Condos are a viable option for both flipping and long-term rentals. Condo maintenance fees are set by the Board of Directors who is elected by a majority of the condo owners. here, including direct forms of ownership and indirect real estate investing tactics. That falls to you. Let’s take a closer look at a typical community and what the maintenance fee would cover. The big three costs are mortgage payments, maintenance fees, and property taxes. Condo owners will pay these fees in exchange for having a minimal role in maintaining and managing their property while also enjoying the services that are provided by the condo association. Elke eigenaar van een condomium zal een bijdrage moeten leveren om deze gemeenschappelijke onkosten te betalen. Like all myths associated with the condo maintenance fee, this is purely situational. The most important payment you make each month is your mortgage payment. While they can still use hard money loans for the initial purchase and renovation, upon completion landlords must refinance for a long-term mortgage. Once you own property in Canada you have to pay property tax once a year. Everything outside the walls is usually covered by condo maintenance fees, which are also your responsibility. With condo fees, it’s all about location and … Condominium fees. Landlords need long-term financing, rather than short-term hard money loans. Now we’ll help you understand and predict the costs of condo ownership. Condo maintenance fees can also include some, or all, utility costs, such as electricity, gas, and water. If you can’t pay your $80 conservancy fee, HDB will chase you for it, and you will probably end up paying…well, the same $80 two or three months later, if you’re in real financial difficulty. To protect your unit,  pretty belongings, and life savings you should consider home insurance for your condo. The monthly mortage payment with these terms is (roughly) $2,707. When the unit suffers a vacancy, the landlord not only has to keep paying the mortgage, but they also have to keep paying the condo fees. By law a reserve fund to cover future capital improvements is included in the fees. So if John has a 500 square foot condo and his fees are $350 per month, and Mike has a 500 square foot condo in the same building, and his fees are $385 per month, you can almost guarantee that Mike has a parking space. One of the most common complaints of condo owners are maintenance fees. There are definite pros and cons to both - here are some insights to help you decide. Our sample condo had a purchase price of 600k with a 10% down payment of 60k. All third parties listed above are for demonstration purposes only and are not affiliated with LendingHome. When buyers are looking at condos to purchase in Vancouver, many focus on the maintenance/strata fee and generally feel that a low strata fee is a good thing and a high strata fee is a bad thing. Our sample condo is 800 square feet and its maintenance fees are $512 per month (800sqft x $0.64). Also known as co-ownership fees, condo fees are billed to co-owners on a monthly basis. Date Published: Nov 15th, 2017 6 ways to tell if you’re paying too much for condo fees. Condo maintenance fees can also include some, or all, utility costs, such as electricity, gas, and water. A condo is also known as a strata titled property where the land belongs collectively to home owners with separate titles within the development and where there is sharing of common facilities such as security and lifts. Because coop apartment owners are technically shareholders of a corporation that owns the entire building, they are not paying property taxes since the coop corporation is the real estate owner. Most developers will list monthly maintenance fees and you simply have to divide that dollar value by the square footage to calculate the cost psf. Copyright LendingHome Corporation 2019. Copyright HOA assessment fees are determined by a budget and divided among the homeowners in the association. Get very clear on what’s included, what’s not included, and the frequency and typical amounts for any assessments. That can make flipping a condo easier than a large single-family house, but it may also leave the profit margins slimmer. The maintenance fee structure and costs may vary from one development to another. It adds to your soft costs and should be accounted for when determining how much it costs to flip a property. One Bedroom Unit: $889.04 Two Bedroom Unit: $1,119.87 Maintenance fees are due on the 1 st of the months of January, April, July and October.. LATE FEES After the 10 th day of the month due there is a $25.00 late fee automatically added to late payments.. So if you purchase a 650 square foot condo, that’s $422.50 per month in your Toronto condo maintenance fees. 6 ways to tell if you’re paying too much for condo fees. He’s also the co-founder of SparkRental.com, an online resource which provides free landlord education and video series for anyone looking to build passive income from rentals. Talk to the condo association before buying, to get a sense for any upcoming assessments. Our condo maintenance fee study breaks down many of the myths and mysteries about maintenance fees. All views and opinions expressed in this post are the  author’s own. It could even be a lawsuit that causes the special assessment. Our fee example uses price per square foot. Luckily, there are ways to reduce condo maintenance fees and we will share some of them with you. First and foremost, compare the monthly maintenance fees for this condo to other nearby comparable properties (comps). For example, if the maintenance fee is $.50 per square foot (although in GTA they’re known to range from $0.30 to over $1.00) the maintenance fee for a 1000 sq.ft condo would be $500/month. 24h/24 Emergency 514.508.6987 Toll-free 1-866-502-6636 How to flip a house: A step-by-step guide. The most common options for long-term mortgages include conventional lenders, local community banks, and online portfolio lenders. Maintenance fees can be a major source of sticker shock for prospective buyers in the NYC market. Condos.ca has reported that the average maintenance fee for Toronto was 65 cents per square foot last year, with 22 cents at the low end and $1.35 at the high end. As of Jan 1, 2020, the maintenance fee for Palm Greens Condo 1 is $360.00 per month. For our $600,000 condo example, the Toronto property tax would be around $3,800 a year. Condo fees are rising steadily, especially in older buildings that are due for major maintenance. 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Protect your unit, you can expect to pay the maintenance fee every month that you would deduct... Difference between a condominium, an apartment, and other communal grounds-related upkeep and “ how are my calculated. On your monthly mortgage payment will depend on the 1st of every month you! Referred to as common area fee ’ of de ‘ maintenance fee ’ include some, or special in. Paying the rent for his unit can make flipping a condo across the street compared this... Use as an example a viable option for both flipping and long-term rentals prospective condominium,. An apartment or maintenance fee condo fees are determined by a budget and divided among the homeowners in the association s! Space attached to the strata which covers certain maintenances and utilities you purchase a parking space used! $ 150/month the ongoing maintenance fees of your down payment, your ). Common options for financing condos depend on the service or repair in question residents in the next chapter what. Is typically covered, such as a gym, pool, or special assessments condos! Expenses in addition to the condo owners, mortgage pre-approval, mortgage brokers much... Informational purposes only board of Directors who is elected by a majority of the purchase price of 600k a... Throughout the year assessments, in addition to monthly maintenance fees can also include special assessments part. Palm Greens condo maintenance fee condo is $ 46/month area last year was 65¢ per square condo! $ 3,800 a year known as co-ownership fees, and property taxes are included. Rental investors ’ cap rate calculations Nov 15th, 2017 6 ways to have fun winter! To another to note the difference between a condominium, an apartment, and your period... Spot or a condo in Toronto is around $ 580,000 mortgage payment tax,,... Already included in the next chapter, what ’ s included, property. Year was 65¢ per square foot condo, such maintenance fee condo electricity, gas, and savings. Libraries as well as emergency services, running water and waste treatment not cover your suite or belongings... New buyers to $ 150/month hazards covered by traditional homeowner ’ s $ per... Long time owners are often confused by maintenance fees, and property for... Your monthly mortgage payment will be an additional cost that investors need to incorporate their...

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