Greenwood Village HOA Condo Dues and What They Cover

Ever wonder why two similar condos in Greenwood Village can have HOA dues that look nothing alike? You’re not alone. When you understand how dues are structured, what they cover, and how to read the disclosures, you can compare buildings with confidence and avoid surprise costs later. This guide breaks it all down and gives you a simple way to calculate your true monthly cost. Let’s dive in.

How condo HOA dues work

HOA charges come in a few forms that you should know before you buy. The core line item is your regular assessment: dues billed monthly in most condo communities to cover day-to-day operations and planned reserve contributions. You may also see special assessments, which are one-time or temporary charges for big projects like roof replacement or elevator repairs. In Colorado, there is commonly a one-time fee for the resale certificate or disclosure packet, and sellers often pay it.

What each owner pays is set by the community’s declaration. Dues are often allocated by unit factor, percentage interest, square footage, or equal shares for similar units. Larger units or those with a higher percentage interest usually pay more. Billing is typically monthly, and governing documents outline late fees, interest, and collection steps.

Associations have lien rights for unpaid dues and, under Colorado’s Common Interest Ownership Act, may pursue foreclosure in extreme cases. Routine dues increases are usually a board decision within limits stated in the documents. Larger hikes or special assessments might require a membership vote, depending on the CC&Rs and state law.

What dues cover in Greenwood Village

Greenwood Village sits in the Denver Tech Center area and offers everything from older garden-style condos to newer luxury high-rises. What’s included varies by building, so always review the budget and disclosures closely.

Operating expenses

• Property management fees
• Master insurance premium for the building and common areas
• Utilities paid at the building level: water, sewer, trash, and often electricity or gas for common areas
• Common area maintenance: landscaping, snow removal, exterior cleaning, lighting
• Janitorial and routine maintenance for corridors, lobbies, and elevators
• Elevator servicing, HVAC for shared systems, and pool or spa upkeep
• Security or front-desk staffing in higher-end buildings
• Administrative costs: legal, accounting, postage, meeting expenses
• Deductibles allocated by the association if allowed in the governing documents
• Taxes on common property when applicable

Reserve contributions

Part of your dues should fund reserves for long-term repair and replacement. The reserve study lists components like roofs, siding, paving, elevators, and major mechanical systems, along with useful life and replacement costs. Healthy budgets clearly separate operating expenses from reserve contributions so you can see if the association is planning ahead.

Insurance basics

The association’s master policy typically covers common elements and the exterior shell, but the scope depends on the declaration and policy type. Some buildings are “all-in” or “walls-in,” while others are “bare walls.” You will usually need an HO6 policy for your unit that covers interior contents, improvements, liability, and loss assessment coverage. Pay close attention to deductibles, including any wind or hail deductibles, and whether the documents allow the association to pass part of a deductible to owners.

Amenities that affect dues

• Fitness center, pool or spa, rooftop deck, community rooms, pet areas
• Covered or garage parking and storage lockers
• Concierge or doorman services in luxury high-rises
• On-site maintenance staff versus contracted vendors, which can change cost stability

Read budgets and disclosures like a pro

In Colorado, the resale certificate and associated packet are key. Request the full packet early and review it during your due-diligence period.

Documents to request

• Resale certificate and full disclosure packet
• Current operating budget with a line-by-line breakdown
• Balance sheet and the most recent income and expense statement
• Most recent reserve study and reserve fund balance or ledgers
• Board meeting minutes for the past 6 to 24 months
• Declaration/CC&Rs, bylaws, rules and regulations, plus amendments
• Insurance declarations page showing coverage and deductibles
• List and history of special assessments and how they were funded
• Litigation disclosures for existing or threatened claims
• Management contract and major vendor contracts, like elevator service
• Rental, pet, and occupancy restrictions
• Parking and storage assignments and associated fees
• Statement of any unpaid dues or liens tied to the unit

Budget red flags

• Lack of separation between operating expenses and reserve contributions
• Low reserves compared to the reserve study’s recommended level
• Sharp increases in insurance, utilities, or professional fees without explanation
• A pattern of large or frequent special assessments
• High spending on debt service or legal fees
• Contract costs that are rising faster than inflation, such as snow removal

How to read the reserve study

Look for an inventory of components, their useful lives, replacement costs, and the recommended annual funding. The funded ratio compares current reserves to what should be on hand. A low funded ratio can signal higher risk of near-term assessments or dues increases. If the study is more than a few years old or lacks detail, ask for an update.

Litigation and risk

Active or threatened litigation can raise costs quickly. Review the nature of the case, potential financial exposure, and how expenses are being paid. Confirm whether costs are covered by insurance, funded from operating or reserves, or handled via a special assessment.

Compare buildings by true monthly cost

Sticker dues rarely tell the whole story. Use a simple method to make fair comparisons between condos.

Step-by-step comparison

1. Gather the full resale packet and current budget for each building.
2. Normalize dues by unit size, such as dues per square foot or per bedroom.
3. Adjust for included utilities or services the owner would otherwise pay out of pocket.
4. Add parking or storage fees if they are not included.
5. Include an amortized monthly figure for any recent or likely special assessments.
6. Consider insurance exposure if deductibles can be passed to owners.
7. Weigh rules that affect value, like rental caps or pet restrictions.

Simple cost formula

True monthly housing cost = HOA dues + estimated owner-paid utilities not covered + amortized special assessment (if likely) + loss assessment contingency + assigned parking or storage fees.

Example only: HOA dues of $450, plus a $25 monthly parking fee, plus a $50 contingency if reserves are around 30 percent funded versus recommended levels. Adjusted comparison cost would be $525 per month. If another building does not include water and sewer that would otherwise cost about $80 per month, include that amount when comparing the other building to keep it apples-to-apples.

Comparison red flags

• Dues that seem very low relative to age and amenities
• A single owner or developer controlling many units
• High turnover or many short-term rentals that strain the budget
• Frequent or unusually large special assessments
• Rising insurance premiums or a history of high deductible claims

Local tips for Greenwood Village buyers

Greenwood Village’s mix of older complexes and newer luxury buildings means the range of dues and what they include can be wide. Proximity to transit and major employers, along with local factors like snow removal and water or sewer charges, can influence budgets. Always confirm what the association pays versus what you pay directly.

To verify the legal framework and best practices, rely on Colorado’s CCIOA, guidance from the Colorado Division of Real Estate, and materials from the Community Associations Institute. For municipal rules, public records, and ordinances that could affect associations, check the Greenwood Village website and the Arapahoe County clerk and recorder. Your agent, the listing agent, and the association’s management company can clarify the most current budget details.

Quick buyer checklist

• Get the full resale certificate and packet early in due diligence.
• Review the current budget and separate operating vs. reserve lines.
• Compare reserve balance to the reserve study’s recommendations.
• Check special assessment history and any pending projects.
• Read board minutes for the last 6 to 24 months.
• Confirm insurance scope, deductibles, and owner HO6 requirements.
• Verify parking, storage, rental limits, and pet rules.
• Ask for clarity on any large variances or rising costs.
• Use the true monthly cost formula to compare buildings.

Work with a local advisor

You deserve clear numbers and no surprises. With a mix of condo styles in Greenwood Village, careful document review and an apples-to-apples cost comparison can save you thousands and reduce stress. If you want help requesting and interpreting the resale packet, reading budgets, and comparing buildings, reach out to Nino Pepper to schedule a free consultation.

FAQs

What do HOA dues cover in Greenwood Village condos?

• Dues typically cover building insurance, common utilities, maintenance, management, reserves for major repairs, and amenities like fitness rooms or pools, but specifics vary by building.

Who pays for the Colorado resale certificate and packet?

• In Colorado, sellers commonly pay a one-time fee for the resale certificate or disclosure packet, though you should confirm in your contract.

How can I tell if dues might rise soon?

• Review the reserve study and current reserve balance, look for upcoming projects in board minutes, and watch for rising insurance or utility line items in the budget.

What is a special assessment in a condo HOA?

• It is a one-time or temporary charge for large or unexpected expenses, such as roof replacement or elevator work, often used when reserves are insufficient.

What insurance do condo owners need in a master-policy building?

• Most owners need an HO6 policy for interior contents, improvements, liability, and loss assessment coverage, plus awareness of any master-policy deductibles that can be passed through.

How do I compare two condos with different dues and inclusions?

• Normalize dues by size, add owner-paid utilities not included, include parking or storage fees, amortize likely assessments, and add a small contingency for deductible exposure.