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Monthly association fee pays for <br />Administrative /Management Fees, Marketing, <br />Operating /Utilities/Maintenance, Insurance, Replacement <br />Reserves, Real Estate Taxes and Principal and Interest <br />Payments on the Mortgage. These costs are similar to <br />Monthly association fees in other ownership units do not <br />what a renter pays with the exception that all funds in <br />cover mortgage payments, property insurance, taxes or <br />excess of the cost become funds of the cooperative <br />maintenance of internal unit. <br />(which all the residents are owners of). Members have nc <br />reason to substantially increase monthly charges unless <br />taxes or operating costs go up, so monthly charges remain <br />reasonable. <br />HUD requires funding of replacement reserves (for life of <br />the loan) and contracts with a third party to do annual <br />inspections of properties (including units), at which time a <br />In condominiums replacement reserves are not required <br />"Real Estate Assessment" score is given to the property <br />(but are budgeted) or regulated by anyone but the <br />and any repairs that are deemed necessary are required <br />association, so there are no guarantees that repairs will be <br />by HUD. Maintenance repairs and capital improvements <br />made. <br />will have funds available to ensure that repairs can be <br />,completed. <br />