What condo association fees cover?

Every condominium association, which is the business that protects, maintains and preserves the real estate assets that you own communally with all the other unit owners, requires money to operate the business.

Depending on the amenities in your community, the 'fees', most properly called assessments -- can cover everything from pool maintenance, landscaping, contributions to reserves, master insurance policy premiums, and more.

Your treasurer can give you a copy of the annual budget, so that you can review the line items showing how each of your assessment dollars is spent.