SandyinLAll43, Home Buyer in Marina del Rey, CA

How can you find out what the HOA fees you pay monthly are used for? They seem too high to me.

Asked by SandyinLAll43, Marina del Rey, CA Wed Sep 4, 2013

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5
Sandy,

Contact your HOA management. They will be able to provide you with that information. Usually a tally of what comes in and what is paid for the year.

If you are considering buying a home, your realtor can point out where the budget papers are so that you can read them in detail. It is part of the investigation period when buying a property that has an HOA.

If you need more details, please call me at (310) 463-8088. I'm a Westside realtor, and Pacific Palisades resident (just north of Marina del Rey).
Web Reference: http://douglaslagos.com
1 vote Thank Flag Link Wed Sep 4, 2013
Your Realtor can inquire for you with the HOA board or get a copy of the CC&R's for you.
Normally they are used for such things as:
. Outdoor landscaping and maintenance
. Fire Insurance
. Pool maintenance
. exterior Paint and repairs
. Security
. Any and all common area maintenance including, walkways, gates, elevators,stairs,tennis courts,
Sometimes basic internet, cable or other utilities are covered
membership in the community Health Club and activities (as with Playa Vista)
Some communities are very active with special events for the residents the HOA covers some of these expenses as well.
HOA when all things considered, is probably close to what you would have to pay yourself over time for maintenance on a house with the same features.
0 votes Thank Flag Link Thu Sep 5, 2013
I'd also add that the Marina City Club is on leased land, which is why those HOA's are high. The property also requires specialized lending. I have an upcoming listing for a 2/2 remodeled unit with views of Mother's Beach. If you'd like to be the first to see it, please let me know!
0 votes Thank Flag Link Thu Sep 5, 2013
Sandy,
I do not know if you are considering making an offer or have an accepted offer. If have accepted offer the CCRs and By Laws will state included items that the monthly HOA pays for. If considering making an offer generally monthly HOA covers:

- Landscaping
- Pool/Spa maintenance
- Grounds maintenance
- Security Guards
- Earthquake Insurance
- HOA reserves
- Cable
- Exterior Maintenance/Repairs
- Complex repairs
- Etc.

Monthly HOAs vary per complex. Marina City Club, Regatta, Cove and Azzurra have additional costs for: valet, doormen, reception, complex service agents and more. Be aware that Marina City Club has HOA plus land fee monthly expenses. For more information please contact me.

Gail Mercedes Cole
EXP Realty Marina del Rey
Marina del Rey Real Estate
http://yourwestsidehomes.com/Marina_Del_Rey.html
310.853.9933
0 votes Thank Flag Link Wed Sep 4, 2013
Hi Sandy,

Every property is different. HOAs routinely cover for a number of things including insurance, security, maintanence fees, and other regular shared expenses. They can also include your share of special assessments, repairs, law suit settlements, etc.

I noticed that you're possibly looking around Marina del Rey. Large residential towers like Marina Pointe and the Marina City Club often have much higher HOAs. Higher-end properties by the beach also often have higher dues and some properties can have extra fees not included in the HOA for ground leases, etc.

Here's a link to a great map search tool for properties in Marina del Rey and other beach cities on my website.

http://www.labeachcitieshomes.com/marina_del_rey_listings_se…

Best of Luck
0 votes Thank Flag Link Wed Sep 4, 2013
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