There are a number of factors that can affect the cost of HOA dues. The association can divide that further into 12 monthly payments to arrive at $250 per member per month. Once the board has determined the total amount, they will then divide this among the members of the community, themselves included.įor example, if an association’s anticipated expenses total $300,000 and there are 100 members in the community, then according to the HOA fee calculator, that would amount to $3,000 per member for the year. They will then factor in reserve fund contributions. This process typically starts with budget preparation, anticipating all the needs and expenses of the community for the coming year. The HOA board is responsible for calculating HOA dues. Some communities, usually higher-end ones, even charge monthly dues in the thousands. But, average HOA fees can range from $200 to $400. The location, type, and size of an association, as well as the nature of its amenities, will influence the calculation of these fees. Some examples of reserve fund expenses are roof replacements, road repaving, and pool retiling.īecause every association is different, there is no universal amount when it comes to HOA dues. Every homeowners association should have a reserve fund for the purpose of covering unanticipated expenses as well as major replacements and repairs in the future. Some examples are management fees, landscaping costs, seasonal services like snow removal, and pool maintenance.Īs mentioned above, reserve fund contributions also account for a portion of HOA dues. Though, the typical HOA fee includes coverage for maintenance services, professional fees, and insurance premiums. Thus, the exact items and expenses that dues cover can vary from community to community. Not all homeowners associations are created equal. How often members must pay these fees depends on the association, but it is usually charged on a monthly or annual basis. These fees are deposited directly to an association’s operating fund, with a portion of it going to the reserve fund. HOA fees, otherwise known as HOA dues, are sums that associations charge to homeowners to pay for various expenses. This is where homeowners association fees come in.
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