Jay covered most of the items the HOA dues cover. However, than can be more items and a thing called "Special Assessments" to cover expenses that have recently come up (example to repair damages after a storm). Also some, such as a town home community, might cover some yard work, upkeep on the building itself, even cable TV or electricity!
Before making an offer on any property, reach out to the home owners association or their management company and ask the question directly to them. They will be able to tell you what the fees are, when they are due and what they cover. Those items, in addition to taxes, are prorated between the buyer and seller at closing. Let us know if we can assist you.
Bernstein Realty, Inc.
You'll find that is common for a Homeowners' Association to handle all or some of the following:
â€¢Establish and collect maintenance fees needed to run neighborhood operations
â€¢Maintain community landscaping
â€¢Maintain recreational facilities
â€¢Provide space for events or neighborhood functions.
â€¢Arrange for street maintenance
â€¢Enforce deed restrictions including, but not limited to, exterior home maintenance, commercial use of properties, control of trash and blight.
If it is a townhome/condo, it can include grounds maintenance, gate maint. (in a gated community). In a condo it often covers common area insurance, sometimes water.sewer, cable - all depends on the property. Your realtor can tell you.
Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
http://www.lynn911.com 100's of Dallas homes listed for sale or lease
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