Condo Fees - What Do They Cover?
When looking for a condo, a buyer needs to be aware that there will be monthly fees paid to the Condo Association in most cases. These fees will cover a variety of expenses.
Fees might cover heat, central air, water, sewer, trash collection or hot water. If there is a clubhouse, pool or fitness center; those things will be covered under fees for recreation facilities and pool service.
The most common thing covered by Association dues is Common Area Insurance. This is a liability policy to cover accidents in the areas shared by unit owners. Common Area Maintenance Fees cover lawn care, snow removal & minor projects like vacuuming a common hallway or keeping a laundry area clean.
Replacement Reserve is an account that unit owners pay into each month. This money is used to pay for more expensive updates like a new roof or resurfacing of a parking lot. If you purchase a condo does not have a replacement reserve, it would be a good idea if you put your own money aside each month to cover such expenses. When the Association needs money for such repairs they will put out a ‘special assessment’, and you will need to pay in at that time.
Sometimes a Condo Association states that the condo fees cover an ‘OTHER’ expense. In these instances, it is best to have your agent call the listing agent for clarification.
If you have more questions about condo fees, give us a call at 262-894-6512; or send send us an email to ckuchta@shorewest.com. We are here to help!
The Kuchta’s - Kelly & Colleen
thekuchtas.shorewest.com
Posted by:
Colleen Kuchta
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Whether you have German roots or not, the term Oktoberfest probably brings to mind a frolicking fall festival complete with music, dancing, hearty food and special brews.
The event proved so fun, it has been repeated for the last 176 years in Munich Germany. Held in October, as the festival grew it now covers more weekends,and stretches into September. Legendary “mass”es (gigantic mugs) of beer are carried by (kellnerin)waitresses, and consumed by zealous patrons. If Munich is a little far to travel, the Suburbs of Greater Milwaukee, will host several Oktoberfest celebrations this year.
In Germantown, the annual Oktoberfest sponsored by the 
Pat Tasker
