Upon completion, all owners/members of the community will be members of a homeowners association (HOA). Phoenix Commons’ members will pay monthly dues to the HOA to cover a variety of community expenses. Initial estimates generated for approval by the State of California as part of our application/disclosure process have been sent in and should be accepted shortly.
After members move in and get an accurate accounting of their costs, the HOA Board (which exclusively consists of owners) can make adjustments each year to the fees to reflect actual expenses. Ultimately, the community itself controls the HOA budget. These fees include many cost-saving items that take advantage of the group purchasing power common in cooperative communities that home owners often have to shoulder themselves.
The common expenses covered by the HOA fee include:
- Property and liability insurance for the building, leaving members only needing insurance for the contents of their units
- Heating and hot water for common areas
- Hot water for all individual units, with the potential to add solar in the future
- Community internet infrastructure and cable connections for TV and internet in the common area
- All ongoing community operating expenses associated with common areas (bathrooms, kitchen, guest rooms, utilities), including one part-time maintenance man
- City water and sewer fees
- Garbage and recycling pick up
- Fire sprinkler and alarm system (upkeep and maintenance)
- Elevator maintenance
- Reserves for building and property maintenance and replacement including paint, roof, and all building-wide systems such as heating, hot water, and lighting
- Homeowners Association (HOA) administrative expenses, including minor bookkeeping
- Electricity for common area and emergency lights
