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Association fees for homes typically cover the costs of maintaining common areas, amenities, and often include necessary services like trash removal, landscaping, building maintenance, and snow removal. They may also fund reserves for major future expenses like roof replacement or refurbishing common areas.
Fees can vary widely from community to community, depending on the amenities and services provided. It also depends on the budgetary needs that arise with the unique set of challenges each community may encounter.
In the context of managing properties, at Daisy Property Management, understanding these fees and managing them effectively is an important aspect of what they do. Their aim is to foster an environment where residents have access to all the essential services they require, while also ensuring the long-term financial health of the community.
Kelvine Ferrer (Kell...
Wiki User
∙ 11y agoYour association 'earns' its income to pay its bills from owners' assessments. Every association is different from every other association, in terms of the bills it pays for services.
Typically, assessments cover master insurance policy premiums, common area utilities, association management expenses, professional fees, asset maintenance, preservation and security, and depending on your community's amenities, more.
Your association manager or your treasurer can show you what your assessments cover.
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