Is this HOA high, or normal?

2 Replies

Hello! I am looking into a Quadplex for sale in a great area of my city. It is in a reasonably sized community of quadplexes, almost like an apartment complex, and includes a pool. I was hopeful that the numbers would really turn out well for the property and area, but they are just not as impressive as I hoped. One of the requirements for the building is a monthly HOA fee of $270. Is this high? My neighborhood HOA is $160 per year. The listing states that the HOA fee is used for “common area maintenance”. The only maintenance that I can see it requiring is lawn care and pool maintenance. If all of the buildings in this community pay that $270/mo, that totals to 12,000 dollars PER MONTH in HOA fees. Surely there is no way that “maintenance” totals 12k a month. Does this sound normal? Does anyone know how I can find the company that runs the HOA to ask how the money is being used? Thank you! — Cody Smith

Cody, if its' listed with an agent he/she should have EZ acess to MLS listing info which will include all HOA docs. typically they are online for EZ reviews. Need more info to determine if "it's normal". EG... are those / unit or a total for the 4 family?

You can request the HOAs budget and financials to determine if it's reasonable or not.

In addition to landscaping and pool, an HOA is also required to carry insurance on both the property and the board of directors' E&O insurance. They may also have a professional management company that will require a fee. Most HOAs are required to get a professional financial audit and file a tax return each year and then there may be legal fees to collect back dues from people who aren't paying.

There is a LOT that goes on behind the scenes in an HOA. Depending on the overall size of the complex, $270/month for something that includes a pool is probably a fairly average amount.

Here in Colorado, I pay the following:

$279 for a 432 unit community that has a pool, a clubhouse, an exercise room and pool tables, landscaping and a shared water bill

$305 for a 183 unit community with no pool, but has landscaping and a playground

$338 for a 120 unit community with a pool, a clubhouse and landscaping.

Your mileage may vary, but your HOA dues seem reasonable(ish) to me.

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