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Depending on what is covered, particularly if you are buying a condo, the fee could be nearly as high as your mortgage payment.. Bilgi says potential buyers need to carefully study what the HOA fee includes and compare that to what they would pay for similar services outside of an HOA.
I recently received a bill from my HOA asking for $200 capital contribution. I was surprised because I've already paid the $150 capital contribution at closing back in March. I called the Management Company and they said it's the contribution to another HOA which is the master of my HOA.This sounds like a charge that they simply made up to get more money. As far as I know, HOA Capital Contribution is a ONE-TIME fee paid @ closing.The HOA had their ONE-TIME chance to collect the capital contribution and that's it.Plus, the fact that my HOA falls under a master association does not give them the rights to make up extra fees like Master Capital Contribution, which is never heard of.he HOA had their ONE-TIME chance to collect the capital contribution and that's it. Plus, the fact that my HOA falls under a master association does not give them the rights to make up extra fees like Master Capital Contribution, which is never heard of.