Are you seeing wildly different HOA fees as you tour condos around Pearl Street and wondering what you actually get for your money? You are not alone. HOA dues can be confusing until you know how each building is set up and what services are bundled. This guide walks you through what fees typically include in downtown Boulder, what to watch for in the documents, and a simple way to compare buildings. Let’s dive in.

What HOA fees cover

In downtown Boulder, HOA dues fund the shared operation, maintenance, insurance and long‑term upkeep of the building’s common elements. While each association is unique, you will commonly see:

• Common‑area maintenance: Cleaning and upkeep of lobbies, corridors, stairs, exteriors, windows that are part of common elements, trash rooms and loading areas.
• Building systems: Elevators, common HVAC and ventilation, fire and life‑safety systems, plumbing stacks and common piping, and roof repairs for common areas.
• Landscaping and snow removal: Sidewalks, entries and shared courtyards. Snow and ice services are a notable local expense.
• Common‑area utilities: Lighting, pumps, domestic hot water when centrally provided, water and sewer for common areas, stairwell and exterior lighting.
• Master insurance: Coverage for the building’s shell and common elements per the policy. Whether interiors are covered varies by governing documents.
• Trash and recycling: For shared areas and sometimes consolidated service for units.
• Management and admin: Professional management fees, bookkeeping, legal and accounting, mailings and communications.
• Reserves: Contributions that build a fund for future capital projects like roof replacement, elevator overhauls and major mechanicals.
• Amenities and staffing: Fitness rooms, pools, concierge or front desk, bicycle or storage rooms, on‑site staff.
• Security and parking operations: Access control, security systems, garage lighting and gate maintenance. Some buildings include parking costs in dues.

Common exclusions

You will usually pay these separately unless your building is master‑metered or has bundled services:

• In‑unit utilities: Individually metered electricity, natural gas and often internet or cable.
• Unit‑owner insurance: Your HO‑6 policy for interior finishes and personal property.
• Property taxes: Paid directly to Boulder County for your unit.
• Special assessments: One‑time charges for capital work if reserves fall short.
• Optional services: Paid storage, extra parking, or guest and facility fees when applicable.

Boulder‑specific cost factors

Downtown Boulder buildings vary widely. Older or boutique properties may have lower dues today but smaller reserve balances and more uncertain capital timelines. Newer luxury buildings near Pearl Street tend to include more services and on‑site operations, which raises monthly dues but can make costs more predictable. Local labor and construction are relatively high cost, and winter weather increases landscaping and snow budgets. Water and sewer are typically provided by the City of Boulder; electricity and gas are often investor‑owned utilities. Always confirm how your specific building meters and bills utilities.

How to read HOA documents

Colorado’s condominium associations operate under the Colorado Common Interest Ownership Act, which sets disclosure expectations for resale. During your due diligence, request a complete resale packet and read it closely.

Documents to request

• Annual budget and year‑to‑date profit and loss
• Most recent balance sheet
• Latest reserve study and the association’s funding policy
• Board and annual meeting minutes for the past 12 to 24 months
• Bylaws, CC&Rs, rules and recent amendments
• Master insurance declarations with coverage, limits and deductibles
• Management contract and contact information
• History of special assessments and any pending projects with cost estimates
• Dues delinquency summary
• Disclosure of any litigation, claims or regulatory actions
• Rental, pet and parking policies

What to look for in the numbers

Compare the current budget to actuals from recent months. Large recurring variances can signal underbudgeting. Check operating cash separately from reserves to ensure day‑to‑day liquidity. Review management fees for escalators and contract terms that could affect future costs.

Reserves and percent funded

Find the date of the reserve study, the recommended annual contribution and the association’s percent funded. A low percent funded increases the chance of special assessments when major components need work. Look for recent or upcoming capital projects and whether the reserve is being replenished afterward.

Insurance details that matter

Confirm whether the master policy is all‑in or bare‑walls. Note the deductible for building‑wide claims. High deductibles shift more risk to owners and can result in special assessments after a large event.

Delinquencies, litigation and assessments

High delinquency rates strain cash flow and may lead to cuts in services or fee increases. Ongoing litigation is not unusual but can create significant, unpredictable costs. Review the history of special assessments over the past 5 to 10 years to screen for chronic underfunding.

Why fees differ between buildings

These factors most often explain why two similar‑looking condos have different dues:

• Amenity level and on‑site staffing
• Services included in dues, such as heat, water or internet
• Building size and economies of scale
• Age and condition of major systems and façade
• Reserve funding approach and claims history
• Local labor and materials pricing
• Governance and management efficiency
• Parking and storage arrangements
• Master versus individual utility metering

Tradeoffs to consider

• Lower dues can be appealing yet may mask underfunded reserves or deferred projects.
• Higher dues that include more services can make your monthly costs more predictable.
• Amenities add lifestyle value but also ongoing operating and replacement costs. Make sure you will use them often enough to justify the spend.

Compare buildings apple to apple

Use this simple method to normalize your true monthly cost across different buildings.

1. Normalize your monthly baseline

• Start with the listed HOA dues.
• Add owner‑paid utilities that are not included. If possible, ask the seller for typical bills.
• Add your HO‑6 insurance, a modest monthly allowance for in‑unit maintenance and any parking or storage fees not included.
• If one building includes heat or hot water in dues and another does not, estimate that cost so you are comparing the same basket of services.

2. Normalize for unit size and features

• Calculate HOA cost per finished square foot by dividing the monthly dues by the unit’s square footage.
• Adjust for included parking or storage and for service scope differences that change your out‑of‑pocket costs.

3. Evaluate reserve health and assessment risk

• Note the reserve percent funded and date of the last study.
• Flag buildings with low reserves or frequent special assessments.

4. Consider your amenity use

• Assign a simple use score to gyms, concierge, roof decks or guest suites based on how often you will use them.

5. Factor governance and risk

• Discount buildings with active litigation or high delinquency to account for potential near‑term assessments.

6. Build a total monthly ownership view

• Mortgage payment + normalized HOA cost + property taxes + owner insurance + utilities not in HOA + parking or extras + maintenance allowance.

7. Run scenarios

• Baseline with no assessments, a moderate case with a small assessment in 5 years and a conservative case with a major project. Use minutes and the reserve study to make estimates more realistic.

Buyer questions for showings

Take this quick list with you to open houses and tours:

• Which utilities are included in the dues, and how are utilities metered?
• Is parking included, and is it deeded, assigned or reserved?
• What does the master insurance policy cover, and what is the deductible?
• Are there planned capital projects in the next 1 to 5 years? How will they be funded?
• What is the current reserve balance and percent funded?
• Have there been special assessments in the past 5 to 10 years?
• What is the dues delinquency rate, and how is collection handled?
• Who manages the association, and how long is the current contract?
• Where can I review the latest budget, financials and meeting minutes?

Red flags and smart moves

• No or very old reserve study paired with minimal reserves
• Frequent special assessments without clear communication or plans
• High delinquency or repeated lender foreclosures in the building
• Ongoing litigation or large insurance deductibles
• Major projects discussed with no clear funding source
• Management turnover or unstable board composition

Smart moves:

• Get the resale packet early and review it during your inspection period.
• Favor buildings that fund reserves consistently if you value predictability.
• Model both monthly dues and the building’s assessment history to see the full picture.
• Consider a condo‑experienced inspector or reserve analyst for buildings with evident deferred maintenance.

Next steps in downtown Boulder

If you want a clear, side‑by‑side view of your top buildings around Pearl Street, we can help you gather documents, normalize costs and pressure‑test the numbers before you commit. Reach out to the Patrick Brown Group to schedule a focused consultation tailored to your goals and timeline.

FAQs

What do downtown Boulder condo HOA fees typically include?

• Common‑area upkeep, building systems, landscaping and snow removal, common utilities, master insurance, management, reserve funding and any amenities or security operations.

What costs are usually not covered by Boulder condo HOA dues?

• Individually metered utilities, your HO‑6 insurance, property taxes, optional services like extra parking or storage and any special assessments if reserves are insufficient.

How can I compare HOA fees between two Pearl Street buildings?

• Normalize the same basket of services, calculate cost per square foot, review reserve percent funded and assessment history, then add parking, utilities and maintenance for a true monthly total.

What is a reserve study, and why does it matter for condos?

• It is an engineering and financial plan for replacing major components; solid funding reduces the risk of surprise special assessments and helps keep dues stable over time.

Which documents should I request during a Boulder condo purchase?

• Budget and financials, reserve study, master insurance declarations, minutes from the last 12 to 24 months, governing documents, delinquency summary, assessment history, and any litigation disclosures.

Are higher HOA fees always a negative in downtown Boulder?

• Not necessarily; higher dues that include heat, water, amenities or on‑site staffing can improve predictability and overall value if you will use the services regularly.