What is covered in the Home Owners Association (HOA) fees?
The rental Management Company has absolutely no control over the HOA. The HOA is governed by a separate Agreement between a Property Manager (not Rental Manager) and the HOA. The annual budget and levels of service are decided on by the HOA at regular and annual meetings. All homeowners are responsible to pay their fees, which represent the overall costs of operating and maintaining the building, whether they are participating in a rental program or not. HOA fees should cover all electricity, propane, water, sewer, cable television, landscaping, garbage removal, snow removal, pool and jacuzzi maintenance, elevator maintenance, reserve fund, administrative (legal, accounting, Management) insurance, common area utilities, and common area property taxes. A detailed account and list of these items can be found in your CC&R documents.
