If you’re buying a condo in Aspen or a nearby community, you’ll be part of a condo owners’ association. Condo buildings and complexes require residents to join and pay dues, and membership in the association has certain rights and responsibilities. Although every condo association is different, you can expect certain amenities and privileges to be covered by the monthly, quarterly or annual dues you pay.
Common Services You Can Expect With Condo Ownership
Owning a condo has its perks, and one of the biggest of those is being able to live in and enjoy your home without worrying about exterior maintenance. Usually, your dues cover these things:
- Interior maintenance
- Exterior maintenance
- Security
- Utilities
- Insurance
Here’s a closer look at each.
Interior Maintenance
When you own a condo, you own the walls inside your unit and everything that those walls contain. However, your unit will most likely be in a building with other units – and your association dues go toward maintaining the common areas in your building and on the grounds of the condo complex, such as:
- Swimming pools
- Parking areas
- Game rooms
- Fitness centers
- Hallways
- Mechanical systems (like electricity, heating and cooling, gas and plumbing)
- Elevators
- Cleaning for common areas
Exterior Maintenance
You share the cost of exterior maintenance with your neighbors when you own a condo. That includes the roof, the exterior walls, gates and fences, gardens and other landscaping features, and sidewalks. Picnic pavilions, playgrounds and other common areas outdoors are all maintained, repaired and upgraded using money that comes from association dues that all condo owners pay.
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Security
Whether your condo complex uses closed-circuit TV, occasional security guards, full-time gate guards or another type of security, your association dues will cover the cost. If there’s an intercom system in your building that guests must use to be “buzzed in,” your dues will contribute to that system’s maintenance and upkeep, too.
Utilities
Many condo developments include fees for common utilities in the association dues, such as sewer, water and trash. Some buildings include gas and heat, too, as well as cable TV or internet. Every condo association is different, though, so you’ll want to see what’s covered before you buy in a particular building or complex.
Insurance
Many condo owners’ associations buy insurance that covers the exterior of the building and common areas. You’ll still be responsible for your personal homeowners’ insurance, though, to cover the inside of your unit and all your belongings.
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