|Re: condo fees||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Fri, 21 Feb 2014 08:26:16 -0800 (PST)|
Our total budget is ~$213,000 which includes deposits to our Replacement, long term Maintenance, and Emergency Reserves. Capital Improvements are funded by donations and "found money" that appears occasionally. The condo fees include everything that that is spent on facilities, landscaping, administration, marketing, outreach, community events, etc. Members do subsidize events by bringing food, etc. For some large purchases that are particularly important to a few members, we do donation drives. Fees also include gas, water, high-speed internet, premium satellite service in the CH, installation of amenities that benefit all units like a TV antenna, childcare on workdays and membership meetings, etc. Remaining funds are used for operating expenses rather than taking funds out of the reserves. Fees increase as the membership approves new or higher expenditures in the budget. Last year they rose 2.8% with added increases to the reserves, increased expenditures for some budget items (others were decreased as not needed), The whole budget is funded according to our formula for condo fees -- 50% per unit and 50% variable by percentage interest. The percentage interest roughly, but not in all instances, is equivalent to square footage plus limited common elements. We do occasional group purchases for owner expenses like blinds, new more efficient toilets, replacement water heaters (they all go out at once), and screen doors. Units range from one bedrooms with a den: 615 SF, to four bedrooms with a full basement: 1600 SF. Fees range from $114 to $363 per month. We are in a politically and quality-of-life desirable neighborhood, but not one of the high end neighborhoods occupied by embassies, political figures, and highly paid Federal Employees. "Politically desirable" means liberal. DC is almost exclusively democrat. I think all the Republicans move to Virginia; at least the ones with lots of money. A recent implant from Brazil chose this neighborhood by looking at the voting pattern. This was the bluest in DC. DC has many condominiums and a relatively high cost of living. Always fairly stable, it's economic viability has increased significantly in the last 10 years. The large number of federal government employees keeps the real estate market more stable than many cities. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
- Re: condo fees, (continued)
- Re: Condo fees Fred-List manager, February 22 2014
- Condo Fees Jack Wilbern, January 17 2021
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