Re:Office Vacancy Rate in San Francisco Just Hit a New High
by ericbarrett on Tuesday October 18, 2022 @12:36PM
(#33250106)
Yes, but I ended up buying a 1br in SF for a comparable price. The HOA fee was $650/mo. The building had 24/7 front desk staff, twice-monthly unit cleaning service, a small gym, a hot tub, and a full-time building engineer. All the while dealing with a lawsuit against the builder for leaks. And our reserve was quite funded. Where was the money going in Chicago?
Re:Office Vacancy Rate in San Francisco Just Hit a New High
by fshbbdssbbgdd on Tuesday October 18, 2022 @12:57PM
(#33250446)
Probably worse maintenance issues, and no builder to fix it for them.
Re:Office Vacancy Rate in San Francisco Just Hit a New High
by bombcar on Tuesday October 18, 2022 @02:04PM
(#33251489)
If they were suing the builder, it was probably still a relatively new building.
Older buildings start getting hit with the "every 20/50 years" maintenance, and also get hit with lawsuits against the building/HOA itself. Those can start to add up over time.
And the size of the building can also affect it; a smaller building with the same amenities would have higher HOA fees.
I personally wouldn't touch them with a fifty state pole, but some people like it.
Condo HOAs usually cover the maintenance of the shared building parts (HVAC, roof, plumbing outside the units, etc). One danger sign is a condo with a HOA that is too low - it likely means maintenance is being put off or done incorrectly or you're going to get hit with a special assessment soon.