As more Americans look to jump from renting to buying a home, more properties require you to cover a homeowners association fee.
NPR said the average monthly fee was about $250 in 2023. More than 500,000 homeowners in Nevada live in homes with HOAs— but what if your HOA payment increased by over 100%?
People living in one Las Vegas condo complex are on the edge. They’re facing a dues increase that’s double what they’re paying now. Rock Vista Springs Three condo complex residents said the proposed hike is too much.
“In January, it would go up 168%,” said Sherwin Escanuela, a complex resident.
Escanuela has two family members who own units in the condo near Buffalo and Washington in Las Vegas.
Residents got a letter about monthly HOA dues potentially going up next year.
It is currently $270, which they have increased from $220 the year before, and $180 the year before. They seem to be pushing it. It will go from $270 to $416 a month.
The letter came from Nicklin Property Management; it explains the hike is necessary for reserve, plumbing and
special assessments— making the total increase to about $416.