Google+  

What are common charges in a condo?

Common charges are two words that can be construed to mean a number of things but normally common charges refers to the monthly dues that are associated with condominium living. All Las Vegas strip condos for sale have common charges; these fees are used to maintain all the common areas of a condo development. These common areas could be a club house, pools, tennis courts, etc. The bulk of the fees go towards the maintenance, the balance are used for administration costs. Anything that is done in the development that is not unique to the owner is covered by these fees.

Usually these maintenance and administrative tasks are done by employees of the association. The fees also are used to pay the real property taxes, utilities, trash removal, security and any other common requirement. The condo owner only is concerned with the maintenance and upkeep of his or her own home.

Many of the Las Vegas strip condos for sale are ideal for singles, young couples or for those who travel a lot and are rarely at home, people like airline flight attendants and flight crew find condo living to suit their lifestyle. These people generally feel safer when they know there are other people around and that security personnel are in attendance around the clock. During their absences or their lack of tools and skill, many people like the idea that their investment will be well looked after whether they are around or not.

Life is certainly easier in a condo, grass is always cut, the gardens are attended to, and for those with units in the north of the country; the snow is removed as soon as it falls. It is the common charges that make all these things possible.

When you are looking for Las Vegas strip condos for sale, make sure you read all the fine print of the contract to purchase. The fees can be quite steep so make sure you can afford the amortization of your unit plus the fees, bear in mind that the fees usually increase in accordance with the standard of living. The common fees are not part of the mortgage payment; they are paid directly to the association and must be paid promptly for the services to continue.

There are magnificent Las Vegas strip condos for sale at The Martin. The common charges at The Martin not only cover the basics, they allow for a dedicated concierge, a fitness center, doorman and many other top class services not found elsewhere.

Save

Be the first to like.

Shares
Share This