HOA fees
Fifth & West HOA fees and condo dues
In a full-service high-rise, the HOA is part of what you are buying. This page explains what dues generally cover, how they are calculated, and exactly which documents to read before you commit.
What HOA dues typically cover at a tower like Fifth & West
Condominium dues at a luxury downtown high-rise fund the building's day-to-day operation and long-term upkeep. While the exact inclusions are defined in the condo declaration, dues at a building of this caliber generally cover:
- Concierge and on-site staff
- Operation and upkeep of amenities (pool, fitness and yoga studios, lounges)
- Common-area maintenance, cleaning, and landscaping
- The building's master insurance policy on the structure and common areas
- Water, sewer, and trash service
- Elevators, life-safety systems, and building security
- Contributions to the reserve fund for major future repairs
Utilities inside your unit, such as electricity and internet, are typically billed separately, and your own homeowner contents and improvements policy (often called an HO-6) is separate from the building's master insurance.
How dues are calculated
Dues are generally assessed by the size of your residence, usually as a function of square footage or your ownership percentage in the association. That means a larger home carries higher dues, and it is why a single quoted dollar figure can be misleading. The accurate way to budget is to look at the actual dues for the specific unit you are considering.
Rather than publish a number that may be out of date, I will pull the current dues schedule and the most recent HOA budget for any residence you are evaluating, so you know the real figure and what it includes.
Documents every buyer should review
Before purchasing, read the condo documents closely. In Texas, the resale certificate compiles much of this, but you should still review:
- The condominium declaration and bylaws
- The current operating budget and the reserve study
- The dues schedule and any history of increases
- Recent board meeting minutes
- Insurance certificates for the master policy
- Any history of, or pending, special assessments
A healthy reserve fund and a clear assessment history are signs of a well-run building. Reviewing them early protects you from surprises that can affect both your monthly cost and your financing.
Good to know
HOA and condo document questions
- What do the HOA dues at Fifth & West cover?
- Condominium dues at a full-service tower like Fifth & West typically cover concierge and staff, the amenity spaces, common area maintenance, building insurance for the structure, water and trash, and reserve contributions. The exact inclusions are defined in the condo declaration, so always review the current budget and dues schedule.
- How much are the monthly HOA fees?
- Dues depend on the size of the residence, since they are generally assessed by square footage or ownership percentage. Rather than quote a figure that may be out of date, I provide the current dues schedule and the most recent HOA budget for any unit you are considering. Ask me and I will send them.
- What documents should a buyer review before purchasing?
- Review the condominium declaration and bylaws, the current budget and reserve study, the dues schedule, recent meeting minutes, insurance certificates, and any special assessment history. In Texas, the resale certificate compiles much of this, and your agent should read it closely with you.
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