An HOA Fees is a monthly or annual fee paid by owners of certain types of residential properties in order to assist with maintaining and improving properties in the association. HOA fees are almost always levied on condominiums and town homes, but they may also apply in some neighborhoods of single-family homes.
For condominium owners, HOA fees typically cover the costs of maintaining the building’s common areas, such as lobbies, patios, landscaping, swimming pools and elevators. The association may also levy special assessments from time to time if its reserve funds are not sufficient to cover a major repair, such as a new elevator or new roof. HOA fees can also apply to single family houses in certain neighborhoods, particularly if there are common amenities such as tennis courts, a community pool or clubhouse or neighborhood parks to maintain. Some HOA fees may cover other items like insurance, maintenance, internet, water, trash, etc. Check the CC&Rs for an exact list of coverage.