HOA fees in Reno (rental homes, insurance, condos)

[slsl6]

I've been researching condo/townhomes in the Reno area and I'm shocked by how high a lot of the HOA fees are (450+ a month)! Is there a reason for this?

[Hotfeet]

When looking at single-family rental homes, I saw fees ranging from $100 to $200; but that wouldn't include any outside maintenance of the house or yard, or utilities. For $450, does that include water, sewer, internet, a fancy gym? In a condo or townhome you are probably paying for exterior maintenance of your dwelling, snow shoveling, yard work, liability insurance that wouldn't be covered by HOA's for single-family homes. Having said that, I agree that the fees seem higher here than in other areas of the country where I've been.

[utsci]

That's pretty steep. Is it in the retirement communitees?

[MrWillys]

Wow, mine are $33 a month.

www.woodlandvillage.net

[2sleepy]

Caughlin Ranch has different rates depending on which community you live in, the lowest is around $182 a quarter and for that you get nothing other than the right to say you live in Caughlin Ranch. In the more 'exclusive communities' you get services like duck ponds and snow shoveling those fees can be as high as $750 a quarter. Unique to Caughlin Ranch is that there are NO amenities, i.e. clubhouse, pools or tennis courts. There are sub-associations (we live in one) so we pay dues of $240 a quarter to the sub-association. I just sold my house and I will be so glad to never pay have to pay HOA dues again

[Petunia 100]

Originally Posted by slsl6

I've been researching condo/townhomes in the Reno area and I'm shocked by how high a lot of the HOA fees are (450+ a month)! Is there a reason for this?

Would you mind saying where you are looking that the HOA fees are so high? I've been looking too, mostly on-line, and most of the HOA fees I see are under $300 per month.

[slsl6]

I'm not all that familiar with the various Reno areas, but I researched condos and townhomes (in the 200K area) and found quite a few with HOA's this high (and no information about what's included). At first I thought the fee might be annual, but no, it's per month!

[braindead0]

HOA fee's can be anything, and can cover anything. The only way you can find out exactly what is 'covered' is to actually read the documentation related to the HOA, do not under any circumstances believe what realtors tell you in this regard. When we were looking even finding out that there are CC&R's attached to a property was difficult.

[Sunshinem]

They're usually high in apt buildings. No idea why. Our isn't that high!

[2sleepy]

Do your due diligence whenever you buy ANY property where there are HOA dues, you might think the fees are reasonable when you buy, but they can and do go up. and it's very common to get hit with assessments. If reserves aren't funded properly you will get an assessment for that; we have some friends who own a condo in Marin County and they just got hit with a $10,000 assessment for a reserve shortage. I know some folks in Somersett who told me the homeowners were going to end up paying for the insolvent private Somersett golf course, I don't know how or if that was resolved.