This low-density property example has 10 units and reflects 2021 sample prices for all common expenses, insurance, a reserve fund, and more! High-density properties usually have a lower cost per square meter (m2), since the fixed expenses can be divided among more owners, but this usually means you have to share common condo amenities with other owners; e.g. pool, business centers, parking, etc.
HOA Fees: Price per Area
In the example below, the monthly amount due per unit ended up being $78.46 MXN per m2. This may seem a bit high, but this was for a boutique property with 12 units and cleaning inside each unit was included twice a week. Prices obviously vary depending on the number of units in the property and the amenities offered; e.g. heated pool, cleaning staff, pool maintenance, security, etc. Example units in the property would pay the following:
- A studio of 30 m2 = $2353 MXN / month
- A 1-bedroom of 50 m2 = $3923 MXN / month
- A 2-bedroom of 75 m2 = $5884 MXN / month
What is included in condo HOA fees in Mexico?
- electricity: $420
- gas: $1,300.00
- city water: $450.00
- bottled water: $440.00
- cleaning supplies: $400.00
- internet: $650.00
- pool supplies: $1,000.00
- gardener: $2,000.00
- general maintenance/repairs: $4,000.00
- individual insurance 10 units: $3,500.00
- insurance common area: $1,000.00
- maid service: $7,500.00
- social security: $1,100.00
- pool service: $5,500.00
- social security: $1,100.00
- staff social security taxes: $700.00
- administrator: $11,600.00
- accountant: $2,100.00
- bank fees: $800.00
- reserve fund: $2,000.00
- TOTAL MONTHLY EXPENSES: $46660 MXN
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