Dear Garrett:

Living in Downtown Sarasota definitely has appeal...There is lots to do...lots going on...and it is filled with excitement! You can walk to restaurants, shops, library, bookstores, and be caught up in that great energy!

There are a variety of buildings from older to brand new, and they all tend to offer different amenities, pricing, views and have different fee structures.

If you let me know exactly what amenities are important to you, what you are looking for, I can relay the fees along with the documents, rules and regs, questions, financial picture of the association, and anything you have in mind..Pets are other important questions to ask about...I have found that the newer buildings have more relaxed, liberal rules regarding pets.


BUT, what you primarily have to look out for in today's shifting market, is the condo's "financial" picture.
You are within your rights to ask the lister, the seller and the condo association any question regarding the other owner's history of paying their fees.

The last thing you want to happen is to become involved in a community where the fees are not being paid and the association starts to bundle these fees onto you and other paying owners!

Condo living can be fun and exciting, with little or no maintenance of your area, and you can basically close the door and not worry about the lawn...But, it is wise to ask an experienced REALTOR to help you navigate your way to care-free living!


Robin S. DiSabatino
Michael Saunders & Company
Cellular: 941-685-5368
Robindisabatino@michaelsaunders.com http://www.FineHomesOfSarasota.com

Great question! Each Home Owners Association is different in both services provided and fees. If you are interested in a specific condo association, my recommendation would be to get a copy of the HOA documents/by-laws along with a copy of the most recent financials.

Hope this helps!

Victoria Stultz, e-Pro, Realtor
Michael Saunders & Company
941-387-5676
VictoriaStultz@michaelsaunders.com

Garrett,

HOA fees vary from community to community in both expense and services included for the fee. The wide range of possible service than may be included in this fee may be:

mangaer, pool, elevator, public insurance, ground maintenance, roads, water, cable, trash removal, irrigation, recreation, bond, roof, exterior, security, etc. etc.

Obviously the more services that are included the greater the expense involved.

The largest portion of the HOA fee of a condo is the master insurance policy. Last year, insurance went up quite a bit which raised most of the HOA's in the area. It seems many people don't realize that the insurance is included in these fees, which usually explains why it's higher then they expect. Also included could be the cable, maintenance, trash, pest control, pool maintenance, on site rental employees, and more.

When you purchase a condo, you have 3 days, right of rescission, to view all the documents, including the financials and budgets. At that time, you would find out exactly what the fee included.

If I can answer any other questions, please feel free to ask.

Geoff Rossman
RE/MAX Tropica Sands
(941) 544-3232
geoff@geoffrossman.com http://www.siestakeytropicalcondos.com

Garrett
monthly fees vary for all cover differnt things. some include all cable, water, trash, exterior insurance, pest control all but electric and internet, however some of the newer condos people pay there own water.
It is a hard question to answer for each complex has different monthly fees and depending on the age of the building and all cost can vary. MOst complex monthly fees do include your exterior insurance, basic cable and pest control all else can change.
What is included will be on the MLS sheet print out if this helps. you are looking at an average of about 400/month that I see some are lower and some higher depends on what is included. sorry to be alittle vague on this fellow New Englander but all are diffferent. also, if you have a pet most older condos do not let people have pets of any kind nor trucks.
i can help you if you want. feel free to email me or call
David Leventhal (from rhode Island)
The Leventhal Team
941-518-7694

Garrett
monthly fees vary for all cover differnt things. some include all cable, water, trash, exterior insurance, pest control all but electric and internet, however some of the newer condos people pay there own water.
It is a hard question to answer for each complex has different monthly fees and depending on the age of the building and all cost can vary. MOst complex monthly fees do include your exterior insurance, basic cable and pest control all else can change.
What is included will be on the MLS sheet print out if this helps. you are looking at an average of about 400/month that I see some are lower and some higher depends on what is included. sorry to be alittle vague on this fellow New Englander but all are diffferent. also, if you have a pet most older condos do not let people have pets of any kind nor trucks.
i can help you if you want. feel free to email me or call
David Leventhal (from rhode Island)
The Leventhal Team
941-518-7694

Hi Garrett
You already have some good feeback here,just wanted to add that it is very important to know and read the bylaws,rules and regulations so you know all restrictions and their financing situation ,budget,any assessment? etc.
Good Luck
A.J.Zaki

Hi Garrett,

Maintenance fees can cover, manager, reserves, sewer, water, trash, cable, pest control, maintenance of common areas, repairs, public insurance, and or etc. They can also cover the roof, outside of building and plumbing and wiring inside the walls that serve the common areas. Every condominium structures it differently. If the condo has a lot of landscaping or pools to maintain, this could make the fees a bit higher. If they want to keep a good amount in reserves, then this can also cause the fee to be somewhat higher. Many condos do not keep a lot in reserve and when a major repair such as a new roof or new siding comes up, then they will assess each condo owner to pay for the repair. Many keep a large amount in reserve and this helps keep the costs of assessments down if they need a major repair.

Most agents post on their listings sheets, what the maintenance fee covers and before purchasing a condo unit, you will have 3 days in which to view the condominium documents that will tell you how much the condo has in reserves. You will also be able to ask any questions you might have. If you do not like what you hear, then you may cancel your contract. If an assessment has been voted on and approved, then the seller is usually responsible for the assessment payment, even though the buyer will be benefiting from the improvement. If the seller is not responsible for the assessment then it is a good negotiating tool when deciding price.

My best,
Terri

Teresa M. Fellows
Broker/Associate
Waterside Realty LLC
941-350-4297
tmf4257@mac.com http://www.floridawestproperties.com

Some cover home insurance, trash, utilities, termite control policies, etc. Some cover the entire exterior, some cover just the roof and siding/trim work but not the window casing/sill...

There are so many variables. One may be $50 more per month for seemingly nothing but then you discover it covers some utilities, the annual termite policy and part of your home owner's insurance! Get a complete list from each association (or ask your agent if you have one since that's part of normal research info we try to provide). Along with list, find out if there are any upcoming special assessments. One thing that the VAR has been very active in is giving buyers the right to not only be disclosed the association rules but copies of the last months of meeting minutes. As for as much as you can! If there is an assessment that is only being talked about but not in effect, that is something that you may want to know about. I also, when it's applicable, mention to my buyers to go ahead and attend a meeting of the association. Best of luck