The term HOA or Homeowner’s Associate Fee, refers to the monthly fee an owner pays for the use of a condo building's common amenities, including the exercise room, the pool and sun deck, the services of the building's staff, a professional property management company, if the building has one, water (in Chicago), and, in most cases, the building’s common insurance
However, there is so much variability among condo buildings and townhome communities, it s recommended that you become familiar with the various HOA fee structures before you begin your property search. Ask your realtor, what is and isn’t included, so you can accurately determine whether or not a property is within your budget.