Are you looking at condos in Las Olas or Downtown Fort Lauderdale and wondering why HOA fees can vary so much from one building to the next? You are not alone. HOA fees can be a large part of your monthly cost and it is important to understand what they include and what they do not. In this guide, you will learn typical fee ranges, what drives them, Florida and Broward factors that matter, a due diligence checklist, and how to budget confidently. Let’s dive in.
Typical HOA fees in Las Olas and Downtown
HOA fees vary widely across downtown Fort Lauderdale and the Las Olas corridor. Amenity-rich waterfront towers with concierge services tend to sit at the higher end, while older or lower-amenity buildings often land lower.
- Studios and efficiencies: roughly $300 to $700 per month in many buildings.
- 1-bedroom units: often $500 to $1,200 per month.
- 2-bedroom units: often $700 to $2,000 per month.
- Larger luxury units and penthouses in waterfront towers: commonly $1,500 to $5,000+ per month, depending on services and size.
Many buyers also compare fees by square foot. A broad downtown range is about $0.50 to $1.75 per square foot per month, with ultra-luxury buildings higher. Use this only as a comparison tool since measurement methods and insurance coverage differences can skew results.
What drives fees higher or lower
- Amenity level and services, including concierge, valet, multiple pools, fitness centers, marina access, and on-site management.
- Staffing intensity, such as full-time front desk, security, and engineering.
- Building age and maintenance needs, especially if there is deferred maintenance.
- Insurance costs and deductibles for wind and flood exposure in coastal Broward.
- Reserve funding and special assessments for major projects.
- Utilities covered by the association vs. billed to owners.
What your HOA fee usually covers
Your monthly fee generally supports building operations, maintenance, and long-term planning.
- Common-area upkeep: lobbies, hallways, elevators, exterior cleaning, lighting, and painting.
- Grounds, pools, and amenities: landscaping, pools, spas, fitness centers, clubrooms.
- Building systems: common-area HVAC, pumps, elevators, and fire systems.
- Security and staffing: doorman, concierge, front desk, and cameras.
- Common utilities: electricity and water for shared spaces.
- Trash and recycling services to building service points.
- Master building insurance for the structure and common elements, plus liability.
- Reserve fund contributions for future repairs like roofs, elevators, and balconies.
- Management and administrative costs.
What your HOA fee often does not cover
Be ready to budget for items that sit outside the association’s scope.
- Your personal property and interior finishes like cabinets, flooring, and fixtures.
- HO-6 unit owner insurance covering interior elements, personal property, and liability.
- Flood insurance for your contents and interior improvements when required by lenders or prudent for location.
- Large windstorm deductibles at the association level. Associations typically fund these via reserves or special assessments.
- Special assessments for capital repairs or unexpected needs.
- Unit utilities not included in the fee such as electricity, cable, and Internet.
- Parking fees if spaces are rented or subject to separate charges.
Master policy details that affect your costs
The condo master policy can be “all-in,” “bare walls,” or “walls-out.” This defines whether interior finishes and fixtures are covered by the association or fall to you. Also review windstorm deductibles and how the association plans to fund them after a storm. These two factors can materially affect both your insurance needs and your exposure to assessments.
Florida and Broward factors to know
Disclosures and required documents
Florida’s Condominium Act sets out what associations must provide to buyers. In practice, you should expect to review the declaration, bylaws, rules, current budget, recent financials, insurance summaries, and recent board minutes. Ask for engineering or structural reports if available.
Reserves after Surfside
After the 2021 Surfside collapse, associations across South Florida face heightened scrutiny of structural integrity and reserves. Many buildings have increased reserve contributions and accelerated projects, which can push fees higher or produce new special assessments.
Insurance and coastal exposure
Downtown and waterfront buildings in Broward often face higher wind and flood risk. Insurance premiums and deductibles have been volatile in recent years. This can increase monthly fees or result in assessments. Identify the current policy limits and the windstorm deductible before you commit.
Structural inspections and recertification
Older buildings may be subject to periodic structural recertification and related repairs. Concrete restoration, façade work, balcony replacements, and garage repairs are common projects that affect budgets and assessments.
Legal and financial risks that raise fees
Active litigation, significant owner delinquencies, and recurring emergency repairs can pressure budgets. These issues often correlate with higher fees or assessments.
Due diligence checklist before you buy
Gather these documents from the seller, association, or management company:
- Declaration, bylaws, and rules to confirm unit boundaries and owner responsibilities.
- Current annual budget, year-to-date financials, and the last audited or reviewed statement.
- Reserve study, reserve balance, and a schedule of planned capital projects.
- Board meeting minutes for the last 12 to 24 months.
- Insurance certificate and summary, including policy limits and deductibles.
- Details on any current or planned special assessments.
- Summary of pending litigation or claims.
- Owner delinquency report if available.
- Management contract if professionally managed.
- Structural or engineering reports and permits for major projects.
- Rules covering rentals, pets, parking allocations, and any age restrictions.
Key questions to ask
- What does the master policy cover and what is the windstorm deductible?
- Which utilities are included in the HOA fee and which are billed to the unit?
- What is the reserve balance and how does funding compare to the study’s recommendation?
- Are special assessments planned or underway, and what is the payment schedule?
- Are there code violations or engineering recommendations for near-term work?
- What is the current owner delinquency rate by dollars and percent?
- What are the rental rules and any investor occupancy caps?
- Is parking deeded, assigned, or subject to extra fees?
- Has the board waived or reduced reserves in recent years?
- Has the building had recent recertification inspections and what were the results?
Practical verifications during inspection and closing
- Match the declaration’s unit boundary definition to your interior finishes and systems.
- Confirm which interior components your HO-6 must insure.
- Verify flood zone status and any lender flood insurance requirement.
- Obtain a written statement of unpaid assessments or pending charges before closing.
How to budget for HOA fees
Start with your mortgage principal and interest, property taxes, and homeowners insurance. Then add the components below to estimate your total carrying cost.
- HOA fee.
- HO-6 policy for interior and personal property.
- Flood insurance if required or prudent.
- Utilities not covered by the association.
- A cushion for special assessments. A simple approach is to set aside $50 to $300 per month depending on the building’s age, reserves, and upcoming projects.
Sample monthly estimate
- Example: 1,200 square foot unit with HOA at $1.00 per square foot per month equals $1,200.
- HO-6 insurance estimate: about $50 to $150 per month depending on coverage.
- Utilities not included: about $100 to $300 per month.
- Total non-mortgage carrying cost: roughly $1,450 to $1,650 per month in this example. Flood coverage, if required, would add more.
Sizing up reserves quickly
Compare the reserve balance and funding rate to the reserve study’s recommendations and the building’s age. A low reserve balance combined with known structural work is a red flag for future assessments.
Red flags to watch for
Frequent or large special assessments.
Low reserves alongside signs of deferred maintenance.
Large windstorm deductibles with no plan to fund them after a claim.
Significant litigation that may carry financial exposure.
Owner delinquency rates above roughly 10 to 15 percent of the budget.
Board minutes showing repeated emergency repairs or vendor disputes.
Restrictions that do not fit your needs, such as strict rental or pet rules.
Unclear unit boundary definitions that shift interior costs to you unexpectedly.
Local insight for Las Olas buyers
In amenity-rich waterfront towers, higher staffing, premium facilities, and rising insurance costs often push fees higher than in older, low-amenity buildings. Newer towers may have stronger reserves, while older buildings can carry assessment risk if major restoration is due. You can reduce surprises by reviewing budgets, minutes, reserve studies, and master policy details early in your process.
If you want help gathering and interpreting association documents, or you need building-by-building context, connect with the local team that works these towers every day. Reach out to D'Angelo Realty Group for a clear plan and next steps.
FAQs
What are typical HOA fees for a 2-bedroom condo in Downtown Fort Lauderdale?
- Many 2-bedroom units run about $700 to $2,000 per month, with amenity-rich waterfront towers often at the higher end.
Do condo HOA fees include insurance on my unit interior?
- The association’s master policy usually covers the building and common elements. You typically need an HO-6 policy for interior finishes, personal property, and liability.
Can HOA fees increase after I buy?
- Yes. Fees can change with insurance premiums, staffing, maintenance needs, reserve funding, and special assessments approved by the association.
How do special assessments work in Fort Lauderdale condos?
- Associations levy assessments for capital projects or unexpected costs. You pay your share based on the governing documents and any approved schedule.
How much should I budget for assessments as a buyer?
- A simple padding of $50 to $300 per month is a practical starting point, adjusted for building age, reserves, and upcoming projects.
Does being on the water make HOA fees higher?
- Waterfront exposure often increases insurance costs and maintenance needs. Amenity packages in riverfront towers can also raise monthly fees.
What is the difference between “all-in” and “bare walls” coverage?
- “All-in” may include some interior finishes, while “bare walls” leaves most interior elements to the owner. Check the declaration to confirm what you must insure.
