|What Are HOA Dues and What Do They Cover?
|HOA dues are recurring payments made from homeowners to the association for membership in the community. Depending on the community these dues may be made monthly, quarterly, semi-annually or annually. This money is used by the HOA to cover the costs of operating and maintaining the association. The benefit of paying the dues is homeowner access to any services provided by the association beyond ancillary operational support.|
These services may include access to amenities that homeowners may not be able to afford and/or maintain individually such as swimming pools, golf courses, tennis courts, gyms, etc. Also, dues may cover services that homeowners may not have to pay for separately due to their inclusion in the association such as landscaping, snow removal, trash services, security, etc.
Typical Services Included with HOA Dues
Lawn care and Landscaping
A/C and Heating Systems
Electrical Systems and Lighting
Cleaning, Painting and Upkeep of Exteriors and Common Areas like Hallway Walls, Carpeting, Clubhouse, etc.
Repair of Roofs, Community Streets, Pipes, Elevators, Etc.
Maintenance of Shared Amenities Such as Pools, Fitness Equipment, Clubhouses, etc.
Insurance Protecting Community Property Against Damage
Utility Payments for Common Areas Such as Electricity, Lighting, Water, Heating and Air Conditioning
Reserve Account to Cover Planned and Budgeted Renovations or Repairs Not Occurring Regularly
Contingency Funds to Cover Unforeseen Community Expenses and/or Emergencies
Services of a Professional Property Management Company to Manage Operations, Maintenance and enforce Association Rules and Regulations
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Aspen Property Management
14 South Main Street
North East, Maryland 21901
Phone: (410) 620-2598 | Fax: (443) 303-8890