{"teamId":"1230000531","campaignId":"2441","seriesId":"79364","from_email":"","email_subject":"Condo fees explained","attachment":"","email_message":"\r\n\t\r\n\t\t\r\n
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\r\n\t\t\t\t<\/i>\r\n\t\t\t<\/div>\r\n\t\t\t
\r\n\tHey {first_name},
\r\n\t <\/div>\r\n
\r\n\tA little note about condominium maintenance fees \u2013 what they are, and why you pay them.<\/div>\r\n
\r\n\t <\/div>\r\n
\r\n\tWhat is a Condo Maintenance Fee?<\/u><\/span><\/strong>
\r\n\t <\/div>\r\n
\r\n\tOther than your own actual unit, you also own a percentage of the \u201ccommon elements\u201d -<\/div>\r\n
\r\n\tthe hallways, the lobby, the pool, etc. Condo maintenance fees go towards paying for these<\/div>\r\n
\r\n\tcommon elements. This generally includes:
\r\n\t <\/div>\r\n
    \r\n\t
  • \r\n\t\tMaintenance and repair<\/strong> \u2013 landscaping, upkeep of fitness equipment, etc.<\/li>\r\n\t
  • \r\n\t\tOperating costs<\/strong> including heat, hydro, water, and garbage removal.<\/li>\r\n\t
  • \r\n\t\tContingency reserve fund \u2013 the rainy day fund to deal with unexpected costs.<\/li>\r\n\t
  • \r\n\t\tStaff \u2013<\/strong> property management fees, concierge, security, etc.<\/li>\r\n\t
  • \r\n\t\tCondo insurance \u2013 <\/strong>because you wholly own only your respective unit, your insurance covers fire or damage only to your own property. Part of the condo fee goes towards paying the bigger insurance that insures the overall building.<\/li>\r\n<\/ul>\r\n
    \r\n\t <\/div>\r\n
    \r\n\tHow much are Condo Maintenance Fees?<\/u><\/strong><\/span>
    \r\n\t <\/div>\r\n
    \r\n\tCondo maintenance fees are paid by all condo owners and are usually representative of the<\/div>\r\n
    \r\n\tpercentage that you own \u2013 the bigger your condo, the higher your maintenance fees. I've<\/div>\r\n
    \r\n\tseen everything from $0.25\/sqft to over $1\/sqft.
    \r\n\t <\/div>\r\n
    \r\n\tGenerally, higher condo fees are associated with:
    \r\n\t <\/div>\r\n
      \r\n\t
    • \r\n\t\tOlder buildings - <\/strong>as buildings age, the lobby is updated, the roof is replaced, and elevators break down.<\/li>\r\n\t
    • \r\n\t\tSmaller buildings -<\/strong> this comes down to basic math; if the concierge's salary is divided by 50 people instead of 500, everybody's share of the cost goes up.<\/li>\r\n\t
    • \r\n\t\tMore staff and facilities -<\/strong> concierges don't come cheap, and neither does maintaining a pool.<\/li>\r\n<\/ul>\r\n
      \r\n\t <\/div>\r\n
      \r\n\tHope this helps!
      \r\n\t <\/div>\r\n
      \r\n\t 
      \r\n\t <\/div>\r\n
      \r\n\tPS - Whether you're new to the Real Estate market or it's been a while since you last<\/div>\r\n
      \r\n\tbought your home, a LOT has changed. Look out for my next email to find out how.
      \r\n\t <\/div>\r\n
      \r\n\tHINT: <\/u>You can purchase a home without ever leaving your doorstep. Isn't that crazy???<\/div>\r\n<\/span>\r\n <\/td>\r\n <\/tr>\r\n
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\r\n Draper & Kramer Mortgage, 2725 Ordway St NW Apt #4, Washington DC, Maryland, 20008, USA
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