Month: May 2025

Buying a condo offers many perks—from urban convenience and shared amenities to fewer responsibilities compared to owning a single-family home. However, a key element that often surprises first-time buyers is condo maintenance and the associated condo maintenance fees. Understanding what these fees cover and how they’re managed can help you make informed decisions and avoid future frustration.

In this guide, we’ll break down what you should expect when it comes to condo maintenance responsibilities and fees.

What Is Condo Maintenance?

Condo maintenance refers to the ongoing care and upkeep of the shared areas and systems in a condominium community. While you own your individual unit, everything outside of it—hallways, lobbies, roofs, elevators, amenities, and the building structure—is typically maintained by a condo association or homeowners’ association (HOA).

This includes:

• Landscaping and lawn care

• Snow and trash removal

• Repairs to roofs, exterior walls, and common plumbing/electrical

• Janitorial services for shared spaces

• Maintenance of amenities like pools, gyms, or clubhouses

• Elevator upkeep

• Pest control in common areas

• HVAC maintenance (if shared)

What Are Condo Maintenance Fees?

Condo maintenance fees, also known as HOA fees or association dues, are monthly payments made by unit owners to cover the cost of maintaining and operating the building’s common areas and systems.

What They Typically Cover:

1. Building Repairs & Upkeep

   • Exterior painting, roof repairs, hallway lighting

2. Utilities for Common Areas

   • Water, electric, gas (for lobbies, hallways, shared amenities)

3. Staff Salaries

   • Doormen, maintenance crews, concierge, property managers

4. Insurance

   • Master policy covering the building structure and liability for common areas

5. Amenity Operations

   • Pool cleaning, gym equipment upkeep, security systems

6. Reserve Fund Contributions

   • Future major repairs or upgrades (like replacing a roof or elevator)

How Much Are Typical Condo Maintenance Fees?

Maintenance fees vary widely depending on:

• Location (Urban condos generally cost more)

• Size and age of the building

• Included amenities

• Number of units sharing the costs

General Ranges:

• Basic condos with few amenities: $200–$400/month

• Mid-range buildings with amenities like a gym or doorman: $400–$800/month

• Luxury high-rises with concierge, pool, and full services: $800–$2,500+/month

In some cities (like New York or San Francisco), it’s not uncommon for fees to be over $3,000/month in ultra-luxury buildings.

Why Fees May Change Over Time

Condo maintenance fees aren’t fixed forever. They can increase based on:

• Inflation and rising labor costs

• Aging building infrastructure

• New amenities added

• Inadequate reserve funds

• Emergency repairs (e.g., unexpected roof damage)

It’s critical to review the building’s financial statements and reserve study before purchasing a condo. A well-managed building plans ahead for large expenses and avoids frequent special assessments (one-time charges for major repairs).

Who Handles the Maintenance?

Most condos are managed by a property management company hired by the condo board. These professionals coordinate repairs, manage budgets, handle staffing, and communicate with residents. However, some smaller buildings may be self-managed.

As a unit owner, your main responsibility is maintaining the interior of your unit—walls, flooring, fixtures, and appliances—while the association takes care of everything outside.

Pros & Cons of Condo Maintenance Fees

✅ Pros:

• Predictable monthly budgeting

• No stress over exterior repairs

• Access to amenities without individual upkeep

• Professional management

❌ Cons:

• Can be costly in high-end buildings

• May rise over time

• Fees must be paid regardless of usage (e.g., if you never use the pool, you still pay for it)

• Risk of mismanagement or poor financial planning

Tips Before You Buy

• Ask for a full breakdown of monthly fees

• Review the reserve fund status and last reserve study

• Check for history of special assessments

• Understand what’s included (and not)

• Talk to current residents if possible

Final Thoughts

Condo maintenance and the associated fees can be both a benefit and a financial obligation. When well-managed, they free you from the burdens of exterior upkeep while giving you access to desirable amenities and community perks. But they also require a commitment to monthly payments and trust in your condo board’s financial decisions.

As with any real estate investment, due diligence is key. By understanding what to expect from condo maintenance and condo maintenance fees, you’ll be in a better position to choose the right home—and lifestyle—for your needs.

Ready to find your next Chicago condo? Our team lives and breaths the Chicago real estate market, and can help you make the most informed decision for your next home purchase. Get in touch with our team today to start your search!