no, they are levied monthly.

My friend in NYC pays $1200 a month. Of course, he has a doorman. Doormen also demand heavy tips at Xmas or they won't open the door for you during the year!

That's why I believe condos are money-pits. In FL for example you will fork over well over half of any rental income on maintenance and insurance. Taxes will take a big chunk of the rest meaning your condo has little, if any, economic value.

Of course, those condos sell (or attempt to anyway) for high prices.

 

a little late to the show......In theory they should account for every penny if you were to ask for the financials..... usually the people who run those things are insane old people with nothing better to do in their lives....

My Condo is $93/mo.... i guess the insurance for the building is $400 per year and the rest is supposedly going to go to maint, but.... my grass can be cut in about 3 minutes and my driveway cleared of snow in less than 3 minutes.....so the remaing $500/year of each person's fee's probably goes to an accountant who is the developers brother..

 

exactly, most of my friends in HOA-zones tell me they are run by rich old ladies who don't care about costs. Their rich friends go and vote, too, while the working stiffs don't have the time.

 

Yeah, it's usually the insane who runs the asylum.

Just read the NYT article about some ridiculous building rules. One building let people who sit in front of their apt door as "security measures" and whoever does that get a break on the maintenance fee. Of course, the people who voted for the rule were the ones who were retired and could afford to do nothing other than sitting in front of their doors. The other tenants had to file a suit that had the rule revoked later. Unreal.

 

Per month.

 

[QUOTE=steven975,Apr 8 2007, 09:28 PM] exactly, most of my friends in HOA-zones tell me they are run by rich old ladies who don't care about costs.

 

I'm glad I don't live in California. My roommates parents' just bought a house out in the country. Not sure about the size of the house, but roughtly 1500-2000 sq ft, needed a bit of work, has 8 acres of land, and it only cost $130,000. I'm starting to like the Midwest more and more.

 

Versus the $1200/month in Manhattan, I'll take the Bay Area.

I rarely ever say "You could not pay me enough to. . . " but I will say that that kind of cold weather, my "price" starts around $95K/yr.

 

It also makes it harder to make a profit by renting the place out! :bonghead:

 

Dude! Bongs!