Utah Condominium HOA Fees in Salt Lake City

June 4, 2010

Salt Lake City Condominiums - Broadway TowersCondo Home Owner Associations (HOA) fees can be a significant expense upon a new condo purchaser’s budget. It is best for condo buyers to have all the facts and figures before making a condo purchase so that there are no unbudgeted expenses after the purchase.

Condo HOA fees fund many important services that make living in a condominium enjoyable. For instance, many condo owners enjoy swimming pools, tennis courts, exercise facilities, club house, RV parking, gated access, parks, playgrounds, utilities, water, sewer, garbage pickup, TV cable, Internet, snow removal, landscape and grounds keeping, and other benefits. Some HOA’s provide a much smaller service package. It is important to find out the monthly HOA fee and what the fee covers before the purchase. Knowing the fee and the services, gives the condo buyer a better view of the true value and cost of the condo they intend to purchase.

In some instances, HOA fees may appear inflated to the prospective condominium buyer. Resort Condominiums - Park City City, UtahHOA fees are often determined by the square footage of the condo unit or by a flat fee to all the owners within the condominium or some other method. In many cases a seemingly high HOA fee is justified when a strong package of utilities, services and amenities are provided. Condo buyers should always ask their real estate agent representing them in their condo purchase to obtain a copy of the HOA fees, HOA meeting minutes, HOA budget and any HOA assessments. Reviewing these documents can give condo buyers a good assessment of current and future HOA expenses before the purchase takes place.

CondosUtah.com recently did a survey of condominium HOA fees. This study examined HOA fees of condos listed on the market for sale during the past year around Salt Lake City. Below is a list of condominiums with HOA fees exceeding $500 in the Salt Lake City area.

Salt Lake City Condo HOA Fee Survey

Condomium Year
Built
SF Monthly
HOA
Fee
Annual
HOA
Fee
  Fee
per/sf
Canyon Road Towers 1976 1446 $529 $6,348 $4.39
Canyon Crest Condominium 1965 2584 $875 $10,500 $4.06
Meridien Condominium 2009 2657 $813 $9,756 $3.67
Towne Park 1983 932 $283 $3,396 $3.64
Bonneville Tower 1964 1171 $349 $4,188 $3.58
Mayflower Condo 1929 1930 $558 $6,696 $3.47
American Towers 1983 2924 $818 $9,816 $3.36
Parc at Gateway 2004 753 $210 $2,520 $3.35
Capitol Hill Condos 1963 1087 $294 $3,528 $3.25
Wasatch Towers 1960 5486 $1,400 $16,800 $3.06
The Stansbury Condo 1965 1056 $267 $3,204 $3.03
Panorama Condos 1962 1100 $265 $3,180 $2.89
Broadway Lofts Condominium 2007 2503 $600 $7,200 $2.88
Carlton Towers 1963 1963 $457 $5,484 $2.79
Zion Summit Condo 1977 2400 $558 $6,696 $2.79
Wilshire Condos 1983 3047 $689 $8,268 $2.71
Metro Condominium 2008 795 $179 $2,148 $2.70
Broadway Tower 1986 748 $157 $1,884 $2.52
Donner Crest 1978 1800 $375 $4,500 $2.50
Presidential Club 2001 1517 $292 $3,504 $2.31
Donner Place Condominium 1977 3150 $606 $7,272 $2.31
Arlington Place 1983 975 $185 $2,220 $2.28
Tall Oaks Condos 1988 3313 $624 $7,488 $2.26
Pierpont Lofts 2001 560 $100 $1,200 $2.14
Waterbury Condos 1974 1075 $182 $2,184 $2.03
City Crest 1979 1336 $217 $2,604 $1.95
Wood Hollow 1977 910 $140 $1,680 $1.85
NorthPoint Condos 1996 3942 $525 $6,300 $1.60
River Run Condos 1998 1232 $154 $1,848 $1.50
Monte Carlo 1971 2050 $245 $2,940 $1.43
Terrace Falls 1985 2376 $275 $3,300 $1.39
Millcreek Hollow 2003 1126 $129 $1,548 $1.37
Edgemont Estates 1932 6191 $675 $8,100 $1.31
Hidden Oaks 1998 1158 $125 $1,500 $1.30
Marmalade Square 1961 747 $78 $936 $1.25
Willow Grove Townhouses 1999 1310 $90 $1,080 $0.82

 

Source: Wasatch Front Regional Multiple Listing Service and condosUtah.com.

 

 

 

 

 

Utah Condominium Resources

 

Utah Condo REALTOR - Residential real estate specialist for Utah condominiums.

Search Utah Condos - Current condominium listings in Utah.

Search Utah Townhouses - Utah Condo Townhouses for sale.

Search Utah Ski Condos - Ski Condos for sale in Utah: Alta, Brighton, BrianHead, Canyons, Deer Valley, Park City, Snowbird, Solitude, & Sundance.

Utah Condo Trends - 2007 Condominium market sales, including condo prices, condo demand, and condo supply.

Utah Condominium Update - 2008 Condos for sale in Utah, including condo sales and statistics.

Utah Condo Report - 2009 Condominium market activity, including condo demand, condo prices, and condo supply.

Utah Condominium Update - 2010 Condo & Townhouse market activity.

Salt Lake City Condominium REALTOR - Utah condo real estate specialist for downtown Salt Lake condos.

 

 

 

 

 

 

 

 

 

 

 

 






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Barry J. Preusz
REALTOR | Residential Specialist


Equity Real Estate, 1218 East 7800 South, Salt Lake City, Utah 84094
Office: 801-993-0083