Home Buying in 94521>Question Details

Finalcloudx87, Other/Just Looking in 94521

What is the average monthly maintenance fee for a 2 bedroom condo in newer buildings in East Bay area of California?

Asked by Finalcloudx87, 94521 Wed Oct 21, 2009

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Hello Final and thanks for your question.

Unfortrunately, there is no such thing as an "average monthly assessment for condominiums. The reason is that an assessment is based on:

1. Age of the Complex
2. Type of Complex (Condo, Planned Development, co-op)
3. Maintenance and deferred maintenance
4. Investments by the Association in their reserves
5. Amenities
6. Care and management of the funds by previous boards
7. Type of insurance purchased by the Association and whether it includes earthquake insurance
8. Collection practicies and policies of the Association including the number of foreclosures this past year
9. Whether there has been any litigation in the recent past

Because so much can change the amount of the assessments, it would be fallacious to state that there is any "average" amount. However, there are patterns. Typically, older associations have higher assessments than newer ones; a condominium will have greater assessments than a planned development; associations with inadequate reserves (based on their reserve study) will have much higher assessments due to lack of funding; associations with a lot of amenities (weight room, gym, game rooms, pools, etc) will have higher assessments than those without such luxuries; and smaller HOAs have higher assessments than will an equally equipped association with more units.

Hope this helps!

Grace Morioka, SRES, ePro
CID Manager and Consultant
Co-Host: Naked Real Estate on BlogTalkRadio.com
Co-Author: Homeowners Associations: A Guide to Leadersihp
Area Pro Realty
San Jose, CA
1 vote Thank Flag Link Thu Oct 22, 2009
That would be about $300 to $350 in Concord in general. Although every complex is different and unique, its about right for amenities, insurance, etc.
Web Reference: http://www.BuyStageSell.com
1 vote Thank Flag Link Wed Oct 21, 2009
Fees can range from $300-$400 typically in this area. It depends on what amenities there are. If there is a pool, clubhouse, tennis court, etc. the fees can get on the higher end.
Web Reference: http://www.jscarealty.com
0 votes Thank Flag Link Sat Jan 30, 2010
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