HOA Fees: What Do They Cover for Contributing Members?

HOA Fees: What Do They Cover for Contributing Members?

Average HOA fees in New York City are over $700. These regular dues to your homeowner's association play a critical part in maintaining your community's high living standards.

From that sparkling swimming pool to neatly manicured walkways, your fees keep your community attractive and comfortable. Keep reading to find out what else they cover.

What Your HOA Fees Cover

Depending on your community type, your HOA fees will pay for maintenance services. From parks to clean pools, the basic upkeep of the community relies on your HOA dues. In addition to the cost of maintaining common areas, your HOA fees may also cover trash removal, water management, and security within your community.

Insurance Coverage

These fees typically go towards a master insurance policy that protects the property. This coverage doesn't extend to the interior of your unit or personal property.

HOA insurance usually offers coverage for incidents that occur in common areas, such as community pools, clubhouses, and playgrounds. This insurance also covers the exteriors of individual buildings within the community, should anything like storms or fires cause damage.


With HOA fees, you not only buy a spot in the neighborhood, you purchase a lifestyle. These payments can grant you access to amazing types of amenities, like swimming pools, fitness centers, playgrounds, and sometimes even golf courses!

Reserve Funds

An HOA must prepare for the unexpected, too. Part of your fees will fill up the reserve fund, acting as a financial safety net for surprising expenses.


HOA dues cover salaries for those hired by the association. This can include property managers, marketing teams, and others involved in the management and upkeep of the community.

Board Member Incentives

In general, HOA board members are volunteers who serve the community without direct financial compensation. While salaries may not be typical, some associations give small rewards to their board members. This is subject to the provisions laid out in the HOA's governing documents.

HOA Fees and Your Protection

By detecting fraud and embezzlement within your HOA, you can help guard your wallet. Inconsistent financial reports are a crucial warning sign.

All HOAs should give detailed financial reports. Discrepancies, unaccounted transactions, or missing reports could signal financial misappropriation.

The association should conduct regular financial audits. If board members postpone, cancel, or resist these audits, contact your HOA president to see what can be done to fix it.

Other Encompassing Fees

Besides monthly HOA fees, there might be other costs you have to bear. Homeowners might be imposed with special assessments or fees for non-routine maintenance. You must also pay a fine if you violate any rules or regulations.

Manage HOA Fees With Ease

Living in Rockland County, New York, comes with benefits that enrich your living experience, and your HOA fees help cover these perks. These dues handle amenities, maintenance, and salaries for anyone the HOA needs to hire to help with the community. Any concerns about how your fees are being spent should be discussed with your HOA president.

If you're looking for guidance on HOA fees or expert association management, contact PMI Properties. For more than twenty years, we've been helping the Rockland County, New York area get the most out of the community living experience.