Short answer: an HOA fee usually pays for shared grounds and amenities in a single-family or townhome community, while a condo fee pays for the building itself: roof, structure, elevators, insurance on common areas and reserves. A special assessment is a separate one-time charge the association levies when regular fees cannot cover a large cost. Ask what the fee includes and whether an assessment is coming before you buy.
What an HOA fee usually covers
- Common grounds, landscaping and entry gates.
- Amenities such as a pool, clubhouse or fitness room.
- Sometimes exterior maintenance, roofs or paint in townhome communities.
- Management and the association's own insurance.
What a condo fee usually covers
- The building structure, roof and exterior.
- Insurance on the building and common areas (the master policy).
- Elevators, hallways, security and building staff.
- Reserves for future repairs, including the structural reserves Florida now requires for buildings three stories or taller.
- Sometimes water, cable or internet, which varies by building.
How special assessments work
When a large expense comes due, such as a roof, seawall, concrete restoration or a reserve shortfall, the association can levy a special assessment on each owner. It can be paid as a lump sum or in installments, and it is owed by whoever owns the unit when it is due. In Florida, recent condo safety laws have made assessments more common in older buildings catching up on repairs and reserves.
Documents to read before you buy
- The current budget and reserve schedule.
- Board meeting minutes from the last two years.
- For a condo: the latest milestone inspection and structural integrity reserve study.
- The rules on pets, rentals, parking and renovations.
- A written statement of any special assessment that is pending, proposed or recently passed.
A low monthly fee is not automatically a good sign. A building with an empty reserve fund and deferred repairs can cost far more over time than one with a higher fee and healthy reserves.
Frequently asked questions
What is the difference between an HOA fee and a condo fee?
An HOA fee usually covers shared grounds and amenities in a community of houses or townhomes. A condo fee covers the building itself, including the roof, structure, master insurance and reserves.
What is a special assessment?
A one-time charge an association levies on owners when regular fees and reserves cannot cover a large expense, such as a roof, seawall or structural repairs.
Who pays a special assessment when a condo is sold?
Generally whoever owns the unit when the assessment is due, unless the contract says otherwise. Ask for a written statement of pending or proposed assessments and negotiate before you sign.
General information, not legal, tax or financial advice. Confirm details with your agent, lender, attorney or insurer.