What expenses are typically covered in the HOA dues?
HOA dues cover the general maintenance and upkeep of all common areas within the development. These dues also contribute to the premium payments for the master policy of insurance, which protects all unit owners. Also included in HOA dues are major repairs not covered by insurance, the HOA could handle these unexpected expenses by a special assessment of all unit owners or by raising the association dues. Sometimes water or trash collection are also covered by these dues.
HOA dues cover the general maintenance and upkeep of all common areas within the development. These dues also contribute to the premium payments for the master policy of insurance, which protects all unit owners. Also included in HOA dues are major repairs not covered by insurance, the HOA could handle these unexpected expenses by a special assessment of all unit owners or by raising the association dues.
