Many people complain about condo fees, without fully understanding WHAT condo fees actually are, what they do, or how they are calculated. Let's review a few of these before deciding if the fees are "bad".
What are Condos First, a condominium is a form of group ownership. When you buy an apartment (lets say 100 units, all same size), you are not only buying your individual condo, but a type of real estate that makes you a PARTIAL owners in the ENTIRE building. In the 100 unit example, you become a 1% in EVERYTHING, for better and for worse. In real life, we typically break down the fees by the size of the units, with larger units paying more.
What Rights / Privileges / Responsibilities Your ownership stake allows you to vote for the board of