> Example: Each unit is paying $200 a month in HOA fees. $100-$150 covers the normal stuff - garbage, electricy, etc. A little bit gets saved each month. $200

> Example: Each unit is paying $200 a month in HOA fees. $100-$150 covers the normal stuff - garbage, electricy, etc. A little bit gets saved each month. $200 would be great. I pay just under $700 a month, and it does not cover electricity or water/sewage. In addition to that, the HOA levies special assessments for things like roof replacement (~$5.5k/unit 2 years ago) and is getting ready to sell off some property in order to cover another $2 million repair cost ($20k per unit, in a 100 unit community full of mostly retirees). In our yearly budget, they do set aside money to cover this stuff, they just regularly and dramatically undershoot their estimates. > It is all kind of a mess, and IMO a good reason to avoid condos. Here, here.