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La, Home Buyer in Las Vegas, Las Vegas,...

why are my hoa fees 190 dollars on a three bedroom condo and the property also rents out the condos like apartments and there is no hoa charge there.?

Asked by La, Las Vegas, Las Vegas, NV Sun Jul 1, 2012

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Hi La,
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
0 votes Thank Flag Link Sun Jul 1, 2012
Those rental units must pay a HOA fee just like you do. It's covered in the rent, so it is not broken out

David Cooper Investor and also a Licensed Buyers Agent 702-499-7037
0 votes Thank Flag Link Sun Jul 1, 2012
The HOA fee is required to provide cash flow and operating expenses to keep the community as it is required to be by the documents recorded and amended when the community opened. If there is a pool, clubhouse, gate, etc., funds have to be allocated for those expenses.
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.


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0 votes Thank Flag Link Sun Jul 1, 2012
The Management company builds the cost of the HOA fee into the rent it charges. They probably still pay it, but not separately like you do.
0 votes Thank Flag Link Sun Jul 1, 2012
If you own the condo, you pay the HOA fees. If you are renting the homeowner pays the HOA fees.
0 votes Thank Flag Link Sun Jul 1, 2012
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