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Are HOA and Condo Fees Negotiable?

hoa and condo fees

Are HOA and Condo Fees Negotiable?

When it comes to buying a property that has fees associated with it, we are often asked if HOA and condo fees are negotiable.

The short answer is no.

Both HOA and condo fees are set by the association. All owners in a neighborhood or a building are members of the association. By purchasing, you’re agreeing to the existing terms and conditions (called the covenants and restrictions) of ownership. Part of those covenants and restrictions involves the assessment of dues. Your dues may be payable monthly, quarterly, or annually.

Dues are set by the association board (we highly encourage you to get to know yours after you move in) and are non-negotiable. Either you agree to pay them or you find a property that doesn’t have those restrictions. It’s also important to know that with a majority vote, your fees could increase in the future. It doesn’t happen often, but it’s something to consider before buying into an association.

New Orleans Properties with HOA or Condo Fees

 

Need help finding your place in New Orleans? Call us today at 504-327-5303. 

 

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New Orleans REALTORS providing home buying, selling, and rental services throughout the metropolitan New Orleans communities.

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Real buying, selling, and renting advice from New Orleans REALTORS