Condo Living

Condominium Special Assessments

By Michael Zimmerman | Published: April 27, 2010

A client asked a great question the other day: Why do some condos have a special assessment? Three situations immediately come to mind. The first is the condo association needs money to pay for a large unexpected expense. Another reason is that the association failed to collect enough from monthly maintenance fees and set aside … Continue reading Condominium Special Assessments

Posted in Condo Living | Tagged cover large unexpected expense, failure to set aside reserves, invest now save money in future | Comments closed

Condo Maintenance Fees

By Michael Zimmerman | Published: April 19, 2010

During my work with clients considering a Honolulu condo purchase, many ask the same question: Condo maintenance fees seem high. What do I get for my money? One of the reasons for the question is that people who live in a single family home pay for their maintenance and repairs in a different way. They … Continue reading Condo Maintenance Fees

Posted in Condo Living | Tagged condo set aside reserves, single family pay as you go | Comments closed

2009 Honolulu Condominium Maintenance Fee Comparison

By Michael Zimmerman | Published: March 14, 2009

Many condo associations raised maintenance fees in 2009 to keep up with rising costs. As I wrote in my 2008 Honolulu Maintenance Fee Comparison, an association’s largest cost components typically include electricity, employee wages & benefits and insurance. How do your building’s maintenance fees compare with similar buildings’ fees? To keep things simple, I like to compare cost per … Continue reading 2009 Honolulu Condominium Maintenance Fee Comparison

Posted in Condo Living | Tagged many condos raised 2009 fees | Comments closed

2008 Honolulu Condominium Maintenance Fee Comparison

By Michael Zimmerman | Published: September 11, 2008

Condominium residents wonder why their maintenance fees are high. I am no exception. Nearly every condo association is raising maintenance fees to keep up with inflation, so most of us can expect a sizable increase next year, mainly due to rising energy costs. An association’s largest cost components typically include electricity (number one by far), employee wages & … Continue reading 2008 Honolulu Condominium Maintenance Fee Comparison