[vegasfan1985]

The reserves are in the six figures, but I understand that even that may be considered underfunded even though it's a small complex. I understand and did as much homework as I could with this thought process. Even if the HOA went up 100 percent, I could still afford it.

[JonathanLB]

I don’t really get the Strip HOA dues. I’ve seen at least 5 buildings with HOA dues less than $200/month for high rises. Either every listing is just wrong or they find some way to keep dues unreal. Both high rises I’ve lived in (LA and Portland) were $625-750/month HOA dues and offered nowhere near what the Strip condos do.

[NLVgal]

Originally Posted by Cold Warrior

People who don't plan on having children have made the right choice.

I agree. I love my boys and my neice, but I don’t want them to have innocent little babies in these times.

[WVREDLEG]

Originally Posted by JonathanLB

I don’t really get the Strip HOA dues. I’ve seen at least 5 buildings with HOA dues less than $200/month for high rises. Either every listing is just wrong or they find some way to keep dues unreal. Both high rises I’ve lived in (LA and Portland) were $625-750/month HOA dues and offered nowhere near what the Strip condos do.

The HOA fees in most high rise listings here are inaccurate, and I suspect it would scare off an inexperienced buyer to see a $500/month fee for 1000 square feet. I used residents' input and lots of research on here and other sites to find more accurate representation of fees. The high rises vary, but I would conservatively estimate $0.50 square foot for fees. Amenities also vary, and the listing often lacks clarity on what is included in the fees. I would hire an agent with the connections to pull current fees and included amenities to do a comparison--it is a huge factor in buying a condo. Simply stated, don't be fooled by what the listing says--do your due diligence, because no one is paying 200/mo for valet, 24/7 concierge, 24/7 guarded and patrolled, pools, 2-4 high speed elevators, exterior window and building maintenance (you don't climb a high rise every day to wash a window).

Your experiences in LA and Portland are realistic for fees here--assuming you are talking luxury high-rise type living. Turnberry, Sky, City Center, Trump, even Regency Towers.

I pay over $200/month in a townhome with a condo fee structure--far from luxury level. Our reserves are over 90 percent funded and will be 100% in less than a year (only 4 years old). Reserves fund roof replacement, exterior stucco and painting, street paving and sealing, exterior fence and gate restoration and upgrades. Water/sewer included, all exterior landscaping included. Our fees cover all of this, and we irrigate all the desert landscaping and a dog run. No pool. Some people are alarmed by our fees. I've reviewed the reserve study and operating expenses--nothing is alarming if the BOD and management are funding the reserve the way they declared to the membership based on a reserve study. Some HOAs choose to fund at a lower level to keep fees lower, but in the end, everyone pays, either over years or in multiple special assessments.

[lvmensch]

Don't know where you folks are getting your HOA fees from. Just did a quick run through of the major ones on and adjacent to the strip. One small low floor in Panorama was $450 but that was the only one below $500. The smaller units were all around $600-$700. Bigger units were $1,000-$2500. Even One Queensridge was $2000.

[WVREDLEG]

Originally Posted by lvmensch

Don't know where you folks are getting your HOA fees from.

My point exactly. I just looked at unit 19c Regency on Zillow and Realtor.com. Take your pick...one says 1 association fee $64. The other has $0. Neither is remotely accurate or a simple mistake by the listing party. Don't use your MLS access....and you will find the data you have conveniently doesn't load to the public data fields--what the rest of us see....

Here's a Turnberry off ....$54 HOA fee....come on....where does this listing show what the real fees are for this unit???? A regular joe or jane sees this deception on many condo listings. I'm confident in my opinion of why this data is absent or wrong on the public sites.

[airics]

Originally Posted by WVREDLEG

My point exactly. I just looked at unit 19c Regency on Zillow and Realtor.com. Take your pick...one says 1 association fee $64. The other has $0. Neither is remotely accurate or a simple mistake by the listing party. Don't use your MLS access....and you will find the data you have conveniently doesn't load to the public data fields--what the rest of us see....

Here's a Turnberry off ....$54 HOA fee....come on....where does this listing show what the real fees are for this unit???? A regular joe or jane sees this deception on many condo listings. I'm confident in my opinion of why this data is absent or wrong on the public sites.

They obviously forgot a digit. Quick google says the hoa fees start at $540 and go well over 1000

The hoa fee is low for the op since it’s not on or even that close (I consider panorama close) to the strip. It’s probably a apartment conversion. I’m pretty sure at the crash they were about 50k

[lvmensch]

Originally Posted by WVREDLEG

My point exactly. I just looked at unit 19c Regency on Zillow and Realtor.com. Take your pick...one says 1 association fee $64. The other has $0. Neither is remotely accurate or a simple mistake by the listing party. Don't use your MLS access....and you will find the data you have conveniently doesn't load to the public data fields--what the rest of us see....

Here's a Turnberry off ....$54 HOA fee....come on....where does this listing show what the real fees are for this unit???? A regular joe or jane sees this deception on many condo listings. I'm confident in my opinion of why this data is absent or wrong on the public sites.

That is why you get an agent to feed you. I have never seen substantial errors in the MLS. Once in a while you get a typo (some of which are hilarious) But that is it. And once in a while you get into the change of the HOA fee which can be significant. One condo doubled for a couple of years last December.

[vegasfan1985]

Not living in a high rise. It's a condo complex. The HOA is between $150 to $300.

[JonathanLB]

Yeah the Zillow listings are completely wrong for HOA dues, they almost all show the major high rises having tiny $167 fees or something like they really are flat out missing the zero at the end! I know better, I’ve lived in luxury high rises almost half of my life, so I’m not fooled but it must be a rough surprise for some people hahaha.

High rise buildings are expensive. Just think about it, a huge office high rise has incredible expenses to maintain but the office tenants pay a lot of money for that space (I am an investor in a high rise office building as well so I’m familiar with some of the workings there, as well as a high rise apartment). Elevators especially are a large expense if something goes wrong, so are windows and roofs and all kinds of systems. Some buildings could save money but choose not to, right or wrong. My Portland building had one person on duty at night, a security person who was minimally trained to provide any other assistance (package pickup). My LA building had both 24 hour security and 24 hour concierge / front desk services. Ironically only the Portland building had any crime issues, with bikes being stolen and cars broken into even with access controlled entry.