COTNER CENTER CONDOMINIUMS

Fees and what they cover

Property 

COTNER CENTER CONDOMINIUM OWNER’S EXPENSES &

POLICY AND PROCEDURES NOTIFICATION

 

Resident Personal Expenses:

1.  Monthly Assessment Fee:

     one bedroom unit: $188.00

            Additional Resident: $18.00

     two bedroom unit: $191.00

            Additional Residents: $18.00 per person
Pricing varies between units.
2.  Your telephone

3.  Electricity for your unit.

4.  Real Estate taxes for your unit (Unless you are eligible for the Homestead Exemption, which must be re-applied for every year.)

5.  Condo-Owner’s Insurance (Form HO-6) with coverage on your real property, personal property (contents), and required amounts of $300,000 in personal liability, $5,000 in medical coverage.  This is purchased through an agent of your choice.  A current copy of a proof of insurance must be submitted to the office when the policy is renewed each year.6.  Optional garage rental: $45/mo.
 


Monthly Assessment Fee Pays for These Expenses:

  • Property Manager's Salary (40 hours/week)
  • Facility Maintenance Manager’s Salary (40 hours/week)
  • Custodial Wages (part-time workers)
  • Accounting Fees
  • Legal Fees
  • Elevator Maintenance & Repairs
  • Lawn Care
  • Tree & Hedge Trimming
  • Snow Removal
  • Contracted Major Repairs (Roof, Plumbing, Heat/AC, etc.)
  • Contracted Carpet Cleaning in Commons Areas
  • Maintenance & Custodial Supplies
  • Utilities for Commons Areas (Electricity & Gas)
  • Water & Sewer
  • Garbage & Recycling
  • Annual Insect Control Spraying in Each Condominium
  • Cable TV
  • Insurance on Commons Areas, Employees and Board Members
  • Corporation Taxes (Income, Payroll, Personal Property & Real Estate)
  • Licenses & Inspection Fees
  • Debt Retirement (If any)
  • Office Supplies & Equipment Repair
  • Telephones in Office, Elevators, and Dining Hall
  • Escrow Savings Against Future Major Expenses
  • Miscellaneous Association Expenses

POLICY and PROCEDURES of COTNER CENTER CONDOMINIUMS
Owners agree to abide by all Policy and Procedures as detailed in the Master Deed and By-Laws, Administrative Policy Manual, and Policy & Guidelines Manual.  These governing documents are available for viewing in the Administrative Office of Cotner Center Condominiums, business hours 9:00 a.m. to 3:30 p.m., Monday through Friday.









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