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February 10, 2022

Covid Pushes HOA Dues To New Highs

Large condo building in San Francisco

Everyone working from home during Covid has resulted in unprecedented homeowners association (HOA) dues increases.

I represented a buyer in a large SoMa building last year, and the disclosures included a notice to residents that explained the escalating HOA costs due to increased water and trash use. The association also had to assume new charges to pay workers who were regularly sanitizing common areas and elevators. Additionally, food and Amazon deliveries had been overloading building recycling capacities.

There will hopefully come a time when residents are spending more time in the office and easing up on their condo building’s services. But prospective condo buyers should expect HOA dues of $600 or more in larger buildings, as associations are trying to keep up with operating costs.

 

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