Condo fees fund the daily operations and maintenance of most condo buildings. They cover security, landscaping, cleaning of common area, common area energy use, maintenance, and other key building functions. In addition -- and this is very important -- a portion of condo fees are held by the building as reserves to fund major maintenance projects. On average, our research shows, condo unit owners can expect to pay $0.44 / SF / per month or $440 in monthly condo fees for a 1,000 SF unit. An important thing to note is that condo fees are not fixed forever --- they rise over time . . .
