New Orleans Condos-Who maintains your condo? Is it you?

    Condo fees are generally paid on a monthly basis to take care of the exterior maintaince  and the upkeep of common areas of the condo complex.  You pay the fee so you are paying for the common areas to be maintained.  You pay to keep up the interior of the unit.  You pay to make sure your air conditioning and heat are in working order. You pay for the appliances and almost everything in the unit.  The fees cover any number of bills which come due such as pool cleaning, landscaping, trash removal, elevator contracts, common area electricity, trash cans, janitorial services, salaries of maintenance people, security systems, painting, and many small items.  The condos fees are generally based upon the % of ownership that your unit is of the total. This is broker down into a charge based on the square footage of your unit.  The larger units pay more than the smaller ones in most all cases in the New Orleans market.

     The condo fees have to be high enough to replace things that break and need to be redone.  If the condo association fails to keep the complex up your resale value drops until its done. Having unreasonably low condo fees is not a smart move if future value matters. It is important when you are looking to purchase to notice if the management does a good job in this regard.  In the end it may be you who pays for the delayed upkeep.  You can however buy a home warranty for your condo which will replace or repair items with a $50 deductible.  The items have to be in good working order when you purchase the condo.  Its best to save your inspection report as proof.  Knowing this will let you enjoy the next parade.

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA