The HOA fees are paid by each unit. If you own you receive the notice of the fees. If you are renting, the fees are incorporated into the price of rent, and the owner of the unit is responsible to pay and will receive all notices regrading fees. Thank you for posting, great question! Raina Musser
In addition, the State of NV also requires a contribution of set aside funds to be used for emergencies and capital improvements. This contribution also comes from the UNIT OWNERS as a monthly fee.
Every HOA is different as to how much this account must have and how much must be contributed to it on a monthly basis. These costs divided by the number of units determine the monthly fee. Typically the fee is determined at a budget ratification meeting in November and the new fee begins January 1. The new fee can be any time allowed by the community documents and Board of Directors.
Some communities "charge" the fee according to the unit size where a larger unit owner pays a larger fee. Some communities have a one fee fits all. How the fee is "charged" is set up in the community documents. Be sure to read all of them.
Once the fee is determined, every UNIT OWNER is responsible to pay the fee to allow the community to pay their bills throughout the year. If the unit owner is owned by the HOA, the developer, a bank, a person, etc., they must pay the fee. No unit is exempt. Many times the HOA fee is included in the lease if the property is rented. It may be paid by the Tenant outside of the lease. Any way you look at it, the fee is being paid for every owned unit in the community.
I hope this helps answer why a fee is being paid as well as who pays the fee. Call me if you would like more information about HOA fees and I can explain more about your particular situation.
New Web Sites:
Please contact me immediately if you know a person that cannot make their mortgage payments. I will work with them to avoid foreclosure or bankruptcy at no charge or fees to them.
Steven Goldman, CRS
Certified Distressed Property Expert (CDPE)
Certified Default Advocate (CDAT)
Certified Short Sale Professional (CSP)
GRI, ABR, SRES, CNHS, PM, CCI
Realty One Group
10750 W. Charleston #180
Las Vegas, NV 89135