Can You Negotiate for Lower HOA Fees?
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When purchasing a home, there are many issues to keep in mind. These often include items such as the interest rate on the mortgage, real estate taxes, and homeowner's insurance. If you've purchased a home governed by a Homeowner's Association and have not lived within a similar community before you may find some challenges adjusting more specifically, HOA fees. Changes to rules and regulations within HOA communities usually require an official voting process before they are implemented. However, if you consider your community fees to be too high, there are a few negotiation tips that might get the process started.
Join the Board of the HOA
One of the first steps to consider is joining the governing board of the HOA. The best way to search for ways to lower HOA fees or impact other types of change within your community is to participate in meetings and to get to know the history of your community and the other members. These relationships and experiences provide a view of the current issues and goals of the governing group.
Review the Books
The breakdown of how the HOA is allocating fees is information that should be readily available to the community. If you're interested in exactly where these fees are going, request to review the books. You'll gain insight into the contractors that help serve the community whether it be landscaping, pool maintenance or any other amenities. If you have suggestions for adjustments the community may implement to save money, it is worthwhile to present those options to the board for consideration. When the HOA saves money, the HOA members save money as well.
Reduce Costs
One of the most common areas where an HOA allocates considerable funds is on landscaping. It is important to have well-kept property to benefit property values; however, it doesn't have to be expensive. If the books show high landscaping or maintenance fees, request that the board negotiates with the current provider for a reduced rate or interview other providers who may be a better value. If the current contracts are reasonable, the board may be able to defer non-essential maintenance.
Consider the Costs of Property Management
Finally, consider the costs associated with the current property management company. Those who live in a condo building, townhome, or other collective living association often have a property management company that handles the high-level issues. While they perform an important function, they can also be expensive. It can be helpful to negotiate a reduced rate with the property management company or consider other management companies that might come at a cost-saving to the community. This can help the HOA members save money on their periodic fees.
About the Author
Daniel Martin, Higgins Group Private Brokerage, Licensed in CT, Lic. #RES.6767971
With over two decades of experience in Connecticut real estate, Daniel Martin is a seasoned Realtor at Higgins Group Private Brokerage, renowned for his exceptional market insight and unwavering client dedication. A lifelong Connecticut resident, Daniel's deep roots in the community, coupled with his extensive professional background, provide an invaluable advantage to both buyers and sellers across Fairfield and New Haven Counties.
Daniel's distinguished career is marked by consistent achievement, earning him the prestigious Connecticut Magazine 5 Star Realtor award from 2014 to 2025. He is a perennial Top Producer, recognized as both a Top Listing Agent and Top Selling Agent, a testament to his strategic approach and keen understanding of market dynamics. His expertise spans a broad spectrum of real estate needs, including guiding First Time Home Buyers, navigating transactions for Single and Multi-Family Homes, Land, New Construction, New Residential Developments, Condominiums, Downsizing, and Rentals.
Beyond his impressive track record, Daniel's professional affiliations include memberships with the National Association of REALTORS (NAR), Connecticut Association of REALTORS (CAR), Bridgeport Board of Realtors, Smartmls and Greenwich MLS. His foundational education in real estate from Naugatuck Valley Community College, complemented by studies at Connecticut School of Electronics and Housatonic Community College, underpins his comprehensive understanding of the industry.
Daniel's unique blend of customer service acumen and technological proficiency sets him apart. He leverages every available marketing resource to ensure his clients' homes gain maximum exposure and stand out in the competitive market.
When not orchestrating successful real estate ventures, Daniel cherishes time with his family, including his wife, two children, and four grandchildren. A passionate musician and golf enthusiast, he embodies the vibrant spirit of the Connecticut communities he serves. Daniel's network extends globally, allowing him to facilitate referrals anywhere in the world.
