These two together are some of my favorite videos; not only is it educational, the bonus of the father/daughter dynamic is so genuine it just warms my heart.
I refuse to pay, or be a member of an HOA. When I’m looking at houses an HOA fee will immediately be a no on the property. I’m not dealing with their craziness. When I OWN a piece of land and the buildings on that land, I will do anything I want on that land and paint my house any colors I want.
The fact that you're mentioning you want to paint your house any colors you want.. as if they wouldn't be approved, that's why a lot of people want to live in an HOA, that don't want pink and purple houses.. .or lets say rainbow colored houses destroying their home's value.
Emotionally, I'm against HOAs BUT, they have their place. On a $800K place, mine is $100/mo. It covers sewer service, trash pickup, police force, fire department, road maintenance and maintenance of the lakes and common spaces. As stated upthread, it also keeps my neighbor from storing four shipping containers next to me - like my old place. :)
@chrismcc6563 $650/month I would imagine. Mine is $300 and it includes everything except electric/gas and whatever breaks on the inside. Roof, siding, water, lawn/snow care and a pool/tennis court all covered. And I still think thats expensive
You need to look through the minutes to review why the dues have gone up. You also need to figure out exactly the $650/month covers. Every HOA is different so there's no way of knowing if this is a reasonable fee or not without that info.
My house is worth 620k and my HOA is 80$ a month. I get a members only pool with life guards, a ton of communal gardens and parks in the area with equipment that is maintained, tennis court, driving security 24/7, and most importantly I’m left alone.
There is a big difference between a house and condo. 650 is crazy, my Mom's was considered inexpensive and was around $200 a month. Includes all outside maintenance and covered anything outside like roofing, siding, driveways, etc.
It's like a shadow mute, I've call into the show before. Like you can hear the answer, but won't be able to respond and the call-screener will talk to you. Once you ask your question and they have enough information they give their answer but don't need to carry on a whole conversation. Some people ramble a lot on there, so it help to shadow mute.
Me too and I’m a slob. Hahah. Right now I got weeds growing and I have an old office trailer out back and a park model mobile home down the side. Hahah. I’m just fine with hick!
@@xfhnhhgjbvcfg most people can’t afford their houses. I know people spending 60% gross income on a house. I’m at 4-5% my gross and I think that’s bad.
@@jimroscovius Oh you know her so personally that she would NEVER do that ? Lol I’ve seen stranger things in my time. And I seriously doubt he would fire his own daughter. 😂
@MrBean I think that is the point. If someone went through the expense and effort to buy and own something; they may feel they shouldn't have to make yet another sacrifice and take the time out of their schedule to go to yet more meetings. All to just to make sure some HOA doesn't make rules or decisions about the very property they 'bought''. That doesn't sound like owning something besides on paper - it more sounds like communal living at private prices.
This sounds about right with condos, especially in metropolitan areas. I live in Baltimore and I was looking to buy a one bedroom condo in the downtown area, and the HOA fees on the average range from $400 to $700. 🤦🏿♂️
Yes, not new condos (because new condos don't have to pay for the maintenance of the building yet), but that sounds pretty normal for a condo where I live that is currently having to pay for major maintenance work (or pay off loans for major maintenance work). Either that or it might have expensive amenities such as a building security guard + pool + fitness center + landscaper. Hardly unheard of unfortunately, especially because insurance rates are increasing so fast because of climate change and these HOAs are often required to cover home insurance for all of the common areas too. I even saw one building where the HOA fee was that high and the reason it was so high is water and cable is bundled into the maintenance fee (which I would hate as a heavy internet user who never watches cable).
In some higher cost of living area $650 is relatively cheap and fees in the $1300 range aren't unheard of, the average condo HOA costs almost as much as an apartment where I live
As someone who had a high HOA fee once…$455 for a $198k condo…, it included water, cable, internet, pool, maintenance, taxes, etc. They had annual meetings where we as owners could attend and I sold it and bought a house without a HOA
I would like a house without HOA too. Maybe Dave is right. One of my HOA members is a single mom who stays home and has nothing to do so she is strolling around the neighborhood looking for the makeup issue to report
Yeah, I was wondering if her fee might include all utilities, taxes. maintenance, landscaping, trash removal. She really needs to see the breakdown of where that money is going to.
I think the key here is it is a condo. The HOA fees probably include utilities, insurance (not contents), maintenance, property management, capital reserve etc...
Our neighborhood was $81 a month but has decreased to $75 a month. We have a nice pool some ponds with fishing and nicely kept grounds. All our HOA guys are former marines and financially responsible. We are in Dallas area also (Frisco)
But in Texas it is very hard to find a house in a neighborhood without an HOA. It is basically another tax added onto the house because as homeowners in HOA we really have no say. They are usually ran by companies and not the homeowners. Had we known all of this we would have looked hard for no HOA and our next home we won’t live in an HOA (out of the state of TX).
"But in Texas it is very hard to find a house in a neighborhood without an HOA." That's pretty much the norm across the country for any new home. Florida even has CDD fees thrown in there (municipal loans paid off by the home owners).
HOAs are the worst. She should sell it. Since it is a condo, not like she owns anything except the four plasterboard walls. Basically an apartment being told what to do along with an extra HOA fee.
I can understand having condo dues because it's tailored to my wants and needs with the security gates/guards,4k cams,heated pools,lawn/landscaping,maintenance of outside condo,tennis courts,heated pools,payroll,etc.... Not into the subdivision of HOAs for houses. Must admit the subdivisions with HOAs look nicer that those without.
So what this nice lady forgot to mention is the $650 covers all utilities, common areas, insurance, building repairs ect. It's not like they say "Hey you owe $650, and you get nothing."
Exactly! This lady did not appear to understand anything about condo HOAs or what her fees are paying for. When I owned a condo, the dues covered everything except electricity.
@kagnewcobra I live in the Dallas area where this lady lives, I have worked in construction for 30 years, specifically midrise condo and apartment development. What happens is they take an older building that was apartments and never had individual meters for anything and convert them to condos. So the HOA dues are fairly high because all these items are included.
It is complete mismanagement if your HOA was so bad with money that they didn't have enough reserves to pay for projects, and instead had to add assessment after assessment to the point that they just had to add it all to the condo fee!
I’m from Dallas as well and property prices are insane. What this lady said is very true . Texas is supposed to be one of the cheaper places to live in. This place is becoming the next California. I definitely won’t be retiring in Tx if things keep going this way.
I’m not sure why we are talking about HOA fees in a condo (assuming building) like it is an HOA fee in a ranch house….that is a pretty common HOA fee for $250k condo
Me too. It was a thankless job. I’m not getting involved anymore. The less you know, the less you have to disclose when you sell. La la la la la, ears covered.
In Florida, some of these condo fees are going up to $1,200 to $1,800 a month for those that don’t have fully funded reserves. Law change after a result of that condo collapse in south Florida.
My problem with HOAs isn't the size of the fees so much, though it can sometimes manifest itself in exorbitant fees. It's the way they inevitably bring out the inner fascist in those running them. Humans always abuse power. Always. It's in our basic nature as a species, and it's always a risk to give another person power over you. They will always eventually abuse it.
I would guess it's to avoid an expected special assessment, probably because the HOA fees were artificially low in the past and then some major renovation popped up (like roof replacement). It's unfortunately common for HOAs to be mismanaged and either substantially overcharge or undercharge.
I’d rather pay a special assessment for something that’s needed, than let the HOA sit on my money and possibly not budget it for infrastructure replacement. They can collect your money monthly and STILL pass a special assessment (“Oops!” with no consequences). I prefer to hold onto my money and invest it so it grows, then pay for things as needed. Most people can’t handle their money properly, though, and don’t know or accept that the building will need things.
@@genxx2724 Same. We've had one assessment in 25 years of $400 a few years ago. Was voted on 95% approved and necessary. Part of my emergency fund/investments covers any assessment that comes up in the future. The board of directors encourage everyone to have an emergency fund regardless even though we have a hefty reserve fund and preventative maintenance. They don't like surprises.
@@genxx2724 I live in a condo and I'm the opposite, I never want to be around for a cash call, especially for something that should have been planned for but was missed somehow. I prefer there be a budget and audits in place to make sure the reserve fund is suitable for the major upcoming expenses (which thankfully my condo has), I also prefer that the cash reserves on hand are being responsibly managed and invested in appropriate funds until needed... the reason I prefer the condo to manage it is because even though people like you are able to plan for yourself, many/most people including fellow condo members won't have this which is why condominiums that dno't have good governance fall into terrible disrepair. Having suitably high condo fees and funded reserves protect your investment.
Yes. Watched a few Vegas high rise videos and they are the same. For a high-rise, I can certainly understand HOAs and having higher fees. There's a lot more maintenance and care that goes into buildings (shared walls/building supports), sewer systems, electricity, the telecomm rooms must be built out, parking, trash, and other amenities. So, I can see that. But, normal one to three story condos? Can't see why they'd be terribly high unless you are getting a lot of amenities for your money.
Depends on what the HOA covers ? How old is the condo, delayed maintenance, law suit, how many buildings? etc. are they preparing to do a major overhaul of something? And she doesn’t know
She is clueless and should not have called without getting her facts together first. This call was a waste of time because she has not done her due diligence ahead of time.
@@jessicalizarraga9160 HOA fees soar when some of your neighbors are foreclosed at once in downturns so those left have to pick up the slack. Massive restrictions in most about even getting permission for repairs inside your own unit like laying carpet or flooring. You usually can't just decide to rent it out, u have to get on a waiting list for months or years. Politics everywhere. I could go on.
I am HOA Board member in a 55+ over community and we post our monthly financials on the HOA Management companies web portal. Also, the HOA would be required to hold an annual meeting where they present and explain the current and next year’s budget. She had to be asked to attend. We also send a copy of the proposed budget for the following year and any intended increase in HOA fees that will be discussed at our annual meeting. All this information is public knowledge. She first needs to read her bylaws and covenants and learn how her HOA operates and how to find or ask for the information she needs as a condo owner. I agree the HOA fee seems exceptionally high for a $250,000 condo but maybe the HOA never did a reserve study and set aside $$ for future maintenance and capital improvements and are now forced to “catch up”. More to this story for sure.
Some HOA fees include exterior maintenance, landscaping, the common clubhouse and pool maintenance, and security. I pay $100 for HOA, and all they do is pay the weekly landscaping, maintain the playground and security gates. $650 in comparison to the value of the condo is astronomical.
@@shachede6828 It depends on the complex and what common area amenities and landscaping it has. Yes, it does cost hundreds, and I’m in an 8-unit building. Granted I’m in California, so our insurance is likely higher.
@@shachede6828 my summer water bill reaches $500/mo. My electric and gas is $200/mo. My trash is $25/mo. My taxes are an additional $500/mo. Homeowners insurance is $100/mo. This is all for a $315k in Kansas. So yes $650/mo hoa fee that pays for all of that is reasonable
This girl didn’t bother to remember what the special assessments were for, and how much for how long, when the notices came. She should have looked into it before calling. Now she’s going to indignantly make demands of the HOA, when they already sent her everything and she ignored it. Another lesson in becoming an adult.
I wonder if they were underfunding reserves and had to step up the funding. There are new laws passed since the collapse of the FL condo that prevent underfunding reserves. Insurance has also increased by 200-400%.
Yep that’s what happens here we’re in Colorado and some of the HOA’s are in the 700s and they’re just for tiny little condos and houses even houses even have HOAS
My HOA is $280. I live right near Downtown Los Angeles. And that covers all of my utilities water, electricity, gas ect. My building was made in 1923 as well. $650 for a 250k condo? That's crazy. My condo is worth $300k. That's highway robbery.
My parents' condo in FL is $450/month, but it covers cable, internet, grounds keeping, roofing, water, pools, tennis/pickleball courts, and a few other things. Their condo is right around the $250K range too.
One of the reasons why some people are surprised by their HOA fees is that they do not stay up to date with what is going on in their community. Everyone is suppose to vote. For those renting an apartment you are also paying HOA fees...it is called increase in rent. Due to the fact apt renters do not own their apt increase fees happen to pay for building insurance, taxes, mainteance, landscape, swimming pools, community center, etc. For legal purposes it is about the wording. If you do not want to pay HOA fees, increase in rent then move off grid and do as you please.
A lot of it is for property management companies. Our HOA is small (18) and we run it voluntarily. Otherwise those companies want like 4K a month to run the HOA.
Be very wary as a new buyer. Those who have already lived there for 10+ years don't mind higher fees and assessments as they have already built equity and want to be in a good position to sell. Being hit with an assessment and due raises 1 or 2 years after buying is not fun. You are essentially paying for mismanagement and lack or maintenance of the past 10-20 years.
$650 seems like nothing. Assuming the building is paying it’s taxes and keeping up with the maintenance. I think Dave is comparing the HOA fee with the fee for a house. You pay your own property taxes with a house and are responsible for all maintenance.
Don't forget, HOA boards have next to no government oversight, insurance companies are now charging an arm and a leg for condos, and management companies can charge whatever the market will handle (plus 10%), too. It's what happens when politicians and government turns over the reigns to private entities and puts the burden of hiring lawyers on those least able to afford it. It's what we voted for, folks, every time we voted.
My hoa is $475 a year. They don't bother us. Keep the grass cut and yard clean. You can add any neutral paint color change of the house. New structures you have to ask for permission
Before anyone can say its too high, what are the amenities? Utility Bills, Maintenance? Playground, Gym? Absent that , the financials are available at the monthl meeting, They are not going to send it via email, because email isn't secure. But, when you ask, it's available. Ours id available at the meeting, from the office, and an online portal.
Condo fees in my bldg go from around $600 - $1300. Electric & water included. It also has a 24 hr concierge, stores, plus other amenities. We rent so we dont have to pay the condo fee, but we’re considering eventually buying because it’s a very desirable county and pretty much a guarantee we can rent it out eventually. I don’t know if it would be worth it considering the condo fee keeps increasing though.
It’s just wild to me that somebody would have bought a property and not have even read the HOA fee paperwork they were surely provided at close (or earlier) or have investigated this years ago.
Also, nobody reads the CC&Rs. They buy a condo and consider it their “house”, and get angry and resentful when they are stopped from doing things that aren’t allowed.
HOA fees have almost doubled in the past 2 years. Sorry to say Dave but this is what it is. It’s not strange. Unexpected insurance premiums for the exterior, and landscaping prices have doubled.
We don't have the context though of what that HOA cost covers. I live in a condo that costs about $400/month in a cheaper city that covers everything except for electricity. So it covers water/sewage, gas, trash pickup and we have a pool/clubhouse. So to me that doesn't seem like an outrageous price in a big city for a condo that's worth 2.5x mine
These are condo management fees. Always higher than regular HOA fees because in a condo situation, you don't own your roofs or walls or land. Those are owned collectively by everyone and therefore your fees are higher in order to maintain those things🎉.
@@DoctorSmartyPants yes, I know. My mom lives in a condo with HOA fees. I know all about them and that’s why I don’t like them. But have never heard of HOA fees that are 6-7 hundred dollars or more! That’s insane!
@@Curious-Lass Condo HOA fees can be that high in major metro areas and usually, the fees are that high because the building often has a lot of amenities and may also include some utilities. Also, if the building is a high rise, the fees are typically high and if the HOA has a renovation project, the fees may include a Special Assessment.
@@DoctorSmartyPants In a condo you don't own your roof, wall, or land? So technically, you never really own the condo then since the roof and the walls are the entire structure. Sounds to me like it would be better to rent one than to own one since your are never the owner of it even if you pay it off.
HOAs are fine. They make sure the losers in my neighborhood keep their yard cut, trees trimmed, and keep cars off the lawn. Human beings need to be saved from themselves. It's why we can't have nice things.
We live in a $400 K condo and our main't fee is $875, most of which is insurance. Our insurance has over doubled in the last 8 years. Also included are other expenses that a homeowner would also have to pay, Water,Sewer, trash, landscape,, Internet, basic cable, and reserves.
Dave's daughter giving him grief is the best. It brings him back down to earth. The back and forth is good.
She is the Heir to the empire!
Yes I love it haha!
110%!!!
Totally! I think they are my favourite duo.
These two together are some of my favorite videos; not only is it educational, the bonus of the father/daughter dynamic is so genuine it just warms my heart.
Whew $650 sounds more like a second rent check
Anyone who thinks this is bad should never consider buying a co-op or condo in Manhattan.
The real answer is HOAs are mostly scamming owners. Period. I've never ever found a single HOA that does anything within reason.
Never pay a HOA fee , don't live where there is one
Condos and townhouses aren't really possible without HOAs
80% of ALL new builds in the U.S. have an HOA
In Texas, that is basically impossible. Since most housing was built less than 40 years ago, it is all HOA
So very glad we found a home near work, family, and church with no HOA.
All it takes is effort.
I love Dave’s and Rachel’s relationship on the show together!
NEVER NEVER NEVER buy ANYTHING that has an HOA!!!! Condo, suburb, ANYTHING!!! You WILL be sorry!
True of all American properties with or without a HOA to be honest.
you dont know what you are talking about. let me ask - who does pay to replace the roof where you live?
I refuse to pay, or be a member of an HOA. When I’m looking at houses an HOA fee will immediately be a no on the property. I’m not dealing with their craziness.
When I OWN a piece of land and the buildings on that land, I will do anything I want on that land and paint my house any colors I want.
The fact that you're mentioning you want to paint your house any colors you want.. as if they wouldn't be approved, that's why a lot of people want to live in an HOA, that don't want pink and purple houses.. .or lets say rainbow colored houses destroying their home's value.
@@jeffwvu4602 LOL come on man.... are you an HOA board member LOL
@@jeffwvu4602tfo, thats none of your business, if u dont like it, live in a cave or buy the whole block
Hoa is a plague in this country
Emotionally, I'm against HOAs BUT, they have their place. On a $800K place, mine is $100/mo. It covers sewer service, trash pickup, police force, fire department, road maintenance and maintenance of the lakes and common spaces. As stated upthread, it also keeps my neighbor from storing four shipping containers next to me - like my old place. :)
Agreed, don’t have one on my home. However 80% of all new builds in the US have an HOA. It’s actually very hard/regional to find non-HOA homes
That was me on the show!! Watching this replay was SO funny 🤣If yall have advice, I welcome it! Should I sell the Condo?
Is that 650 a year?
Best of luck.
@chrismcc6563 $650/month I would imagine. Mine is $300 and it includes everything except electric/gas and whatever breaks on the inside. Roof, siding, water, lawn/snow care and a pool/tennis court all covered. And I still think thats expensive
Buy two more of them
You need to look through the minutes to review why the dues have gone up. You also need to figure out exactly the $650/month covers. Every HOA is different so there's no way of knowing if this is a reasonable fee or not without that info.
Our house is worth $250k and our HOA is $200 a year. $650 sounds ridiculous for her place valued at the same amount.
My house is worth 620k and my HOA is 80$ a month. I get a members only pool with life guards, a ton of communal gardens and parks in the area with equipment that is maintained, tennis court, driving security 24/7, and most importantly I’m left alone.
There is a big difference between a house and condo. 650 is crazy, my Mom's was considered inexpensive and was around $200 a month. Includes all outside maintenance and covered anything outside like roofing, siding, driveways, etc.
I like how Dave just hangs up on people. You’ve said enough, goodbye.
i suspect its a mute only
As the other comment said, mute ❤
It's like a shadow mute, I've call into the show before. Like you can hear the answer, but won't be able to respond and the call-screener will talk to you. Once you ask your question and they have enough information they give their answer but don't need to carry on a whole conversation. Some people ramble a lot on there, so it help to shadow mute.
@@blackonblack...9244 Never called in but just about to write the same.
Bye Felicia
I couldn't afford a condo! I love owning a house with no HOA rules.
Heck I couldn't afford one of my condos I have now if I had to buy it at today's price.
Me too and I’m a slob. Hahah. Right now I got weeds growing and I have an old office trailer out back and a park model mobile home down the side. Hahah. I’m just fine with hick!
Then you can't afford a house lol
@@xfhnhhgjbvcfg most people can’t afford their houses. I know people spending 60% gross income on a house. I’m at 4-5% my gross and I think that’s bad.
Owning a house (with NO HOA rules OR fees) IS the WAY to go.
I love how Rachel simultaneously teases and challenges her Dad! Only she would get away with it!! 😅😅
Anyone else would get fired for challenging him like this lol
I wonder if she cheated on her husband if Dave would fire her?
Because he did that to a former co-host 😮
@@cjhoward409 Ok, troll - First, she wouldn't do that. Second, yes, he'd fire her.
I never have, and never will, live where I have to pay an HOA. NEVER!!
@@jimroscovius
Oh you know her so personally that she would NEVER do that ? Lol I’ve seen stranger things in my time. And I seriously doubt he would fire his own daughter. 😂
The end of this call with Rachel rippin' on her dad just totally made day LOL
Bring it up at the HOA meeting.
@MrBean I think that is the point. If someone went through the expense and effort to buy and own something; they may feel they shouldn't have to make yet another sacrifice and take the time out of their schedule to go to yet more meetings. All to just to make sure some HOA doesn't make rules or decisions about the very property they 'bought''. That doesn't sound like owning something besides on paper - it more sounds like communal living at private prices.
This sounds about right with condos, especially in metropolitan areas. I live in Baltimore and I was looking to buy a one bedroom condo in the downtown area, and the HOA fees on the average range from $400 to $700. 🤦🏿♂️
@@Mrsmetamorphosis2012 True!
Yes, not new condos (because new condos don't have to pay for the maintenance of the building yet), but that sounds pretty normal for a condo where I live that is currently having to pay for major maintenance work (or pay off loans for major maintenance work). Either that or it might have expensive amenities such as a building security guard + pool + fitness center + landscaper. Hardly unheard of unfortunately, especially because insurance rates are increasing so fast because of climate change and these HOAs are often required to cover home insurance for all of the common areas too.
I even saw one building where the HOA fee was that high and the reason it was so high is water and cable is bundled into the maintenance fee (which I would hate as a heavy internet user who never watches cable).
This is a typical HOA for a high-rise condo in my area (northern VA/DC). I saw a $189k condo in DC with an HOA of $1.1k/month.
Exactly very normal for Atlanta and Dallas too. Not sure where baldie here gets his numbers
@@juanrestrepo1017 And Los Angeles...especially high rises and buildings with lots of amenities.
Go to the annual meeting. Her fault for her ignorance. Almost all HOAs are originally underfunded. Sounds like a catchup of reserves.
In some higher cost of living area $650 is relatively cheap and fees in the $1300 range aren't unheard of, the average condo HOA costs almost as much as an apartment where I live
I'm trying to guess you live in NYC area...Boston..or somewhere in California?
This is called legalized theft.
As someone who had a high HOA fee once…$455 for a $198k condo…, it included water, cable, internet, pool, maintenance, taxes, etc. They had annual meetings where we as owners could attend and I sold it and bought a house without a HOA
I would like a house without HOA too. Maybe Dave is right. One of my HOA members is a single mom who stays home and has nothing to do so she is strolling around the neighborhood looking for the makeup issue to report
Yeah, I was wondering if her fee might include all utilities, taxes. maintenance, landscaping, trash removal. She really needs to see the breakdown of where that money is going to.
HOA and condo fees are out of control... it's like buying a place and then also paying rent on top of it.
Doesn't make sense.
This woman would never be on air if Dave wasn’t her dad
I think the key here is it is a condo. The HOA fees probably include utilities, insurance (not contents), maintenance, property management, capital reserve etc...
I pay about $300 a month for HOA and they do nothing really for the community
So what's the point of owning? I rent and pay only twice your HOA fee.
It’s condo’s not houses usually
@@shachede6828 actually that's incorrect communities are charging hoa for houses and town houses
@ApplesAndOranges the point is your are paying for the Parks, pools. Club houses, fire pits, bbqs etc
@@barrymicockneryes but you're not getting any of those services like this caller but it's required as a homeowner in the city.
Our neighborhood was $81 a month but has decreased to $75 a month. We have a nice pool some ponds with fishing and nicely kept grounds. All our HOA guys are former marines and financially responsible. We are in Dallas area also (Frisco)
But in Texas it is very hard to find a house in a neighborhood without an HOA. It is basically another tax added onto the house because as homeowners in HOA we really have no say. They are usually ran by companies and not the homeowners. Had we known all of this we would have looked hard for no HOA and our next home we won’t live in an HOA (out of the state of TX).
There's plenty of houses and property without an HOA in Texas. You just have to look.
"But in Texas it is very hard to find a house in a neighborhood without an HOA."
That's pretty much the norm across the country for any new home. Florida even has CDD fees thrown in there (municipal loans paid off by the home owners).
HOAs are the worst. She should sell it. Since it is a condo, not like she owns anything except the four plasterboard walls. Basically an apartment being told what to do along with an extra HOA fee.
@@stevenporter863 She does own the land, together with everyone else.
I can understand having condo dues because it's tailored to my wants and needs with the security gates/guards,4k cams,heated pools,lawn/landscaping,maintenance of outside condo,tennis courts,heated pools,payroll,etc....
Not into the subdivision of HOAs for houses. Must admit the subdivisions with HOAs look nicer that those without.
I absolutely love when Rachel picks on dad!
So what this nice lady forgot to mention is the $650 covers all utilities, common areas, insurance, building repairs ect. It's not like they say "Hey you owe $650, and you get nothing."
ALL utilities? Highly unlikely but I suppose possible.
Very few cover electricity. Most buildings where I live cover heat and water. Sometimes gas.
Exactly! This lady did not appear to understand anything about condo HOAs or what her fees are paying for. When I owned a condo, the dues covered everything except electricity.
Mine covers that for about $200/month.
@kagnewcobra I live in the Dallas area where this lady lives, I have worked in construction for 30 years, specifically midrise condo and apartment development. What happens is they take an older building that was apartments and never had individual meters for anything and convert them to condos. So the HOA dues are fairly high because all these items are included.
Rachel and Dave you cannot say this is mismanagement at all until you know what is going on.
It is complete mismanagement if your HOA is raising rates 100 dollars a year without an explanation
It is complete mismanagement if your HOA was so bad with money that they didn't have enough reserves to pay for projects, and instead had to add assessment after assessment to the point that they just had to add it all to the condo fee!
With no explanation is an assumption. She probably did not look into it.
@@sobeliever1638 Agreed!
Condo HOAs tend to be high because they typically cover exterior maintenance such as painting, roofs, landscaping, etc.
With an HOA that high, you never own your condo, even if its paid off
I'm with Dave... you can tell me what to do and pay me OR I can pay you and I can tell you what to do. I hate HOAs.
Same reason I hated school 😂
No one’s gonna buy it with that fee.
Caller needs to attend meetings.
Or just read the minutes and documents she receives.
I’m from Dallas as well and property prices are insane. What this lady said is very true . Texas is supposed to be one of the cheaper places to live in. This place is becoming the next California. I definitely won’t be retiring in Tx if things keep going this way.
I’m not sure why we are talking about HOA fees in a condo (assuming building) like it is an HOA fee in a ranch house….that is a pretty common HOA fee for $250k condo
Thank you. Baldie here Lives under a rock 😂
I was VP for our HOA for one year, NEVER again will I do that. Once I punch out of this place if I do that I will NEVER go into another HOA.
Me too. It was a thankless job. I’m not getting involved anymore. The less you know, the less you have to disclose when you sell. La la la la la, ears covered.
Stay away from HOAs.
NEVER live in an HOA 🤮🤮🤮🤮🤮🤮
In Florida, some of these condo fees are going up to $1,200 to $1,800 a month for those that don’t have fully funded reserves. Law change after a result of that condo collapse in south Florida.
The fault here is this caller being so lazy she has no idea what it covers; hasn’t asked to see the budget.
My problem with HOAs isn't the size of the fees so much, though it can sometimes manifest itself in exorbitant fees. It's the way they inevitably bring out the inner fascist in those running them. Humans always abuse power. Always. It's in our basic nature as a species, and it's always a risk to give another person power over you. They will always eventually abuse it.
I would guess it's to avoid an expected special assessment, probably because the HOA fees were artificially low in the past and then some major renovation popped up (like roof replacement). It's unfortunately common for HOAs to be mismanaged and either substantially overcharge or undercharge.
It increased 200 dollars or 40%. It was insane before they upped it. Lol.
I’d rather pay a special assessment for something that’s needed, than let the HOA sit on my money and possibly not budget it for infrastructure replacement. They can collect your money monthly and STILL pass a special assessment (“Oops!” with no consequences). I prefer to hold onto my money and invest it so it grows, then pay for things as needed. Most people can’t handle their money properly, though, and don’t know or accept that the building will need things.
@@genxx2724
Same.
We've had one assessment in 25 years of $400 a few years ago. Was voted on 95% approved and necessary.
Part of my emergency fund/investments covers any assessment that comes up in the future.
The board of directors encourage everyone to have an emergency fund regardless even though we have a hefty reserve fund and preventative maintenance.
They don't like surprises.
@@blackworldtraveler3711 It sounds as if you have smart, mature people running your HOA.
@@genxx2724 I live in a condo and I'm the opposite, I never want to be around for a cash call, especially for something that should have been planned for but was missed somehow. I prefer there be a budget and audits in place to make sure the reserve fund is suitable for the major upcoming expenses (which thankfully my condo has), I also prefer that the cash reserves on hand are being responsibly managed and invested in appropriate funds until needed... the reason I prefer the condo to manage it is because even though people like you are able to plan for yourself, many/most people including fellow condo members won't have this which is why condominiums that dno't have good governance fall into terrible disrepair. Having suitably high condo fees and funded reserves protect your investment.
I once looked at a condo in Downtown Houston that was $1,200/month on a $250k condo. High rises generally have that high of an HOA.
Yes. Watched a few Vegas high rise videos and they are the same. For a high-rise, I can certainly understand HOAs and having higher fees. There's a lot more maintenance and care that goes into buildings (shared walls/building supports), sewer systems, electricity, the telecomm rooms must be built out, parking, trash, and other amenities. So, I can see that. But, normal one to three story condos? Can't see why they'd be terribly high unless you are getting a lot of amenities for your money.
I pay $550 / year in HOA fees. We have 4 miles of walking trails, pool, and tennis courts. Entrance is landscaped 4x year to keep things looking good.
GO, DAVE! GO! SERVE YOUR HOA! 😂😂😂😂😂😂😂
This banter was FABULOUS
Depends on what the HOA covers ? How old is the condo, delayed maintenance, law suit, how many buildings? etc. are they preparing to do a major overhaul of something? And she doesn’t know
She is clueless and should not have called without getting her facts together first. This call was a waste of time because she has not done her due diligence ahead of time.
Sounds like it's $650 a year... That is NOT astronomical!
My condo is far cheaper than a house. I cannot maintain a house for the price of the HOA fees and no external repairs
I'm on an HOA. Why doesn't she know where the money is going? She has every right to know where the money is going.
Because she hasn’t bothered to ask.
Dave should join the board of his neighborhood and become HO-Dave
I cannot understand how HOA became a thing I would never live in a neighborhood where I paid someone to tell me what to do with my house
I like it, people act like they are breathing down your neck while measuring your lawn length every week. It really depends on the community.
If you don’t know what your HOA fees are paying for, then you are not a right fit to live in a HOA community.
I owned a condo once. Never again. Biggest mistake in housing I ever made.
May i ask why? They seem more affordable than buying a house and they are becoming very popular lately
@@jessicalizarraga9160 HOA fees soar when some of your neighbors are foreclosed at once in downturns so those left have to pick up the slack. Massive restrictions in most about even getting permission for repairs inside your own unit like laying carpet or flooring. You usually can't just decide to rent it out, u have to get on a waiting list for months or years. Politics everywhere. I could go on.
@@houseofgrindgaming3448 If more than a certain percentage are rented, the entire property doesn’t qualify for FHA loans.
My HOA dues get me lawn maintenance, and a community free of boats/campers/junk cars parked in front yards.
Amen. And a community free of AirBnBs and random people living next to you for a drug filled weekend of fun lol
My non HOA neighborhood has none of that on the front lawns, AND I don't pay a ridiculous fee or have to follow ridiculous rules!!
I am HOA Board member in a 55+ over community and we post our monthly financials on the HOA Management companies web portal. Also, the HOA would be required to hold an annual meeting where they present and explain the current and next year’s budget. She had to be asked to attend. We also send a copy of the proposed budget for the following year and any intended increase in HOA fees that will be discussed at our annual meeting. All this information is public knowledge. She first needs to read her bylaws and covenants and learn how her HOA operates and how to find or ask for the information she needs as a condo owner. I agree the HOA fee seems exceptionally high for a $250,000 condo but maybe the HOA never did a reserve study and set aside $$ for future maintenance and capital improvements and are now forced to “catch up”. More to this story for sure.
once you learn about hostile takeovers in HOA's you will likely never buy one again
Some HOA fees include exterior maintenance, landscaping, the common clubhouse and pool maintenance, and security. I pay $100 for HOA, and all they do is pay the weekly landscaping, maintain the playground and security gates. $650 in comparison to the value of the condo is astronomical.
There’s also water, sewer, trash, electricity, possibly gas, insurance, taxes, and accounting.
@@genxx2724 everyone charges that, it doesn’t cost even up to a $100
@@shachede6828 It depends on the complex and what common area amenities and landscaping it has. Yes, it does cost hundreds, and I’m in an 8-unit building. Granted I’m in California, so our insurance is likely higher.
@@shachede6828 my summer water bill reaches $500/mo. My electric and gas is $200/mo. My trash is $25/mo. My taxes are an additional $500/mo. Homeowners insurance is $100/mo. This is all for a $315k in Kansas. So yes $650/mo hoa fee that pays for all of that is reasonable
It’s actual normal for any city. Look it up.
This girl didn’t bother to remember what the special assessments were for, and how much for how long, when the notices came. She should have looked into it before calling. Now she’s going to indignantly make demands of the HOA, when they already sent her everything and she ignored it. Another lesson in becoming an adult.
I’m not a girl, I’m a woman. 🥰 Those were some serious assumptions you made. But thank you!
@@Danielathebrand did you find anything in your email?
@@Danielathebrand Any update? Curious minds want to know!
I wonder if they were underfunding reserves and had to step up the funding. There are new laws passed since the collapse of the FL condo that prevent underfunding reserves.
Insurance has also increased by 200-400%.
Yep that’s what happens here we’re in Colorado and some of the HOA’s are in the 700s and they’re just for tiny little condos and houses even houses even have HOAS
Yup. That’s how much HOAs are nowadays
Our HOA fees are $1,840 a year per house
My HOA is $280. I live right near Downtown Los Angeles. And that covers all of my utilities water, electricity, gas ect. My building was made in 1923 as well. $650 for a 250k condo? That's crazy. My condo is worth $300k. That's highway robbery.
My parents' condo in FL is $450/month, but it covers cable, internet, grounds keeping, roofing, water, pools, tennis/pickleball courts, and a few other things. Their condo is right around the $250K range too.
Exactly - Thank you.
One of the reasons why some people are surprised by their HOA fees is that they do not stay up to date with what is going on in their community. Everyone is suppose to vote. For those renting an apartment you are also paying HOA fees...it is called increase in rent. Due to the fact apt renters do not own their apt increase fees happen to pay for building insurance, taxes, mainteance, landscape, swimming pools, community center, etc. For legal purposes it is about the wording. If you do not want to pay HOA fees, increase in rent then move off grid and do as you please.
Dave doesn't live in reality anymore. $650 HOA fee for a big condo building is typical. It's not 1992 anymore.
A lot of it is for property management companies. Our HOA is small (18) and we run it voluntarily. Otherwise those companies want like 4K a month to run the HOA.
Ours charges $400 per month for an 8-unit building with no amenities. We just have a security gate, garage gate, and a little landscaping.
Sounds like this was a very poorly run condo and it caught up them, now the owners all pay!
Best, outro banter ever
I’m in Toronto and the condo fees here are ridiculous as well! Just ridiculous!
Love seeing them be daughter and father
Love this funny poke sticking between Rachel and Dave, all in good fun.
With the high cost of insurance in Florida it is not uncommon to see $600 HOA fees.
This is ridiculous, and I'm glad I got involved and joined the board. This is ridiculous!
Be very wary as a new buyer. Those who have already lived there for 10+ years don't mind higher fees and assessments as they have already built equity and want to be in a good position to sell. Being hit with an assessment and due raises 1 or 2 years after buying is not fun. You are essentially paying for mismanagement and lack or maintenance of the past 10-20 years.
$650 seems like nothing. Assuming the building is paying it’s taxes and keeping up with the maintenance.
I think Dave is comparing the HOA fee with the fee for a house. You pay your own property taxes with a house and are responsible for all maintenance.
I live in Myrtle Beach, SC. We have a ton of condos here with HOAs well over 1,000 a month
Why would you be paying his own fee month after month this high and not question what it allocated to?. Seriously. 🤨.
My parents neighborhood has an HOA. Talk about a pain. I'm glad my neighborhood does not have one.
That's her fault for not asking for a budget.
Don't forget, HOA boards have next to no government oversight, insurance companies are now charging an arm and a leg for condos, and management companies can charge whatever the market will handle (plus 10%), too. It's what happens when politicians and government turns over the reigns to private entities and puts the burden of hiring lawyers on those least able to afford it. It's what we voted for, folks, every time we voted.
This is why I don't own any properties with HOA fees. I've seen them as much as $2,000 and the only thing provided was a gate.
My hoa is $475 a year. They don't bother us. Keep the grass cut and yard clean. You can add any neutral paint color change of the house. New structures you have to ask for permission
I hate HOA's, but in a condo arrangement, they're unfortunately a necessary evil.
Before anyone can say its too high, what are the amenities? Utility Bills, Maintenance? Playground, Gym? Absent that , the financials are available at the monthl meeting, They are not going to send it via email, because email isn't secure. But, when you ask, it's available. Ours id available at the meeting, from the office, and an online portal.
Condo fees in my bldg go from around $600 - $1300. Electric & water included. It also has a 24 hr concierge, stores, plus other amenities. We rent so we dont have to pay the condo fee, but we’re considering eventually buying because it’s a very desirable county and pretty much a guarantee we can rent it out eventually. I don’t know if it would be worth it considering the condo fee keeps increasing though.
You rent. Of course you pay the condo fee and the landlord's taxes and insurance.
@@mrsmith1339 It would seem that way but our rent is only $1500. If we are paying the condo fee, then our rent is only $200.
OMG Rachel cracks me up! I love when she takes a dig at Dave it's so much fun to watch
It’s just wild to me that somebody would have bought a property and not have even read the HOA fee paperwork they were surely provided at close (or earlier) or have investigated this years ago.
Also, nobody reads the CC&Rs. They buy a condo and consider it their “house”, and get angry and resentful when they are stopped from doing things that aren’t allowed.
Meanwhile my HOA in south Florida is $950/mo. Covers water, cable, trash and security
HOA fees have almost doubled in the past 2 years. Sorry to say Dave but this is what it is. It’s not strange. Unexpected insurance premiums for the exterior, and landscaping prices have doubled.
Why would you sign up to be in an HOA to begin with?!
If you purchase a condo or townhome, there will be an HOA.
Did Daniela really think the HOA fee was going to stay at $450 forever?
🤣🤣🤣
Right, not to mention a 450 condo fee on a 250K condo should have been a bit of a red flag!
One word... begins with an "E" ends with "bezzle". 🤪
We don't have the context though of what that HOA cost covers. I live in a condo that costs about $400/month in a cheaper city that covers everything except for electricity. So it covers water/sewage, gas, trash pickup and we have a pool/clubhouse. So to me that doesn't seem like an outrageous price in a big city for a condo that's worth 2.5x mine
Wow! I have never heard of such high HOA fees!!! That’s insane!! I am with Dave. I hate HOA’s. I don’t want to pay and then be told what to do!!
These are condo management fees. Always higher than regular HOA fees because in a condo situation, you don't own your roofs or walls or land. Those are owned collectively by everyone and therefore your fees are higher in order to maintain those things🎉.
@@DoctorSmartyPants yes, I know. My mom lives in a condo with HOA fees. I know all about them and that’s why I don’t like them. But have never heard of HOA fees that are 6-7 hundred dollars or more! That’s insane!
@@Curious-Lass Condo HOA fees can be that high in major metro areas and usually, the fees are that high because the building often has a lot of amenities and may also include some utilities. Also, if the building is a high rise, the fees are typically high and if the HOA has a renovation project, the fees may include a Special Assessment.
@@DoctorSmartyPants In a condo you don't own your roof, wall, or land? So technically, you never really own the condo then since the roof and the walls are the entire structure. Sounds to me like it would be better to rent one than to own one since your are never the owner of it even if you pay it off.
@@vickieclark5931 That sounds about right.
HOAs are fine. They make sure the losers in my neighborhood keep their yard cut, trees trimmed, and keep cars off the lawn. Human beings need to be saved from themselves. It's why we can't have nice things.
We live in a $400 K condo and our main't fee is $875, most of which is insurance. Our insurance has over doubled in the last 8 years. Also included are other expenses that a homeowner would also have to pay, Water,Sewer, trash, landscape,, Internet, basic cable, and reserves.
Yep. Living in the country has its perks.