A Good Dog Policy For Condos / Condo Fees and Value /
September Sales Stat Videos By Area / 

Your Center City Condo Newsletter- October 2017

How To Best Manage Pet Policies In Any Given Condo Building In Center City

Here is what I think is best to
 maximize demand without pissing off other condo owners:

*Allow pets but apply restrictions

*Max two dogs with a max weight of 50 lbs. each

*Make exceptions for old/overweight dogs

*Only allow owners to have dogs

*If you have a rear service elevator, then
only allow pets in that elevator

*Don't fight emotional support dogs or Service Pets - you'll likely lose that fight

   Think about it....If potential buyers Miffy and Biffy have a pet dog and you do NOT allow pets in your building...they'll cross your building OFF the list a as possible place to buy.  I've seen it happen time and time again. And again. A building can restrict it's pet policy to make most owners and potential buyers happy. River's Edge at 2301 Cherry just did so and it has helped demand - no question about it!

12 Condo Fees Facts
...as I see them

 *Right or wrong, some buyers will reject a building with high condo fees. However...

*Most buyers will look at their total monthly cost in determining their financial reach in terms of a purchase.

*Educating a buyer about the purpose of condo fees often tempers a buyer's aversion to higher fees - most buyers simply do not grasp the concept of condo fees and how they are determined.

*It is not uncommon for there to be an additional condo fee for a parking spot and sometimes that number can be super duper high (often as high as neighboring rental garages). 

*Condo fees are not tax deductible

*Condo fees in Co-op buildings include the taxes

*Almost every buyer will pay approx. 2 months worth of condo fees into the kitty (aka- reserve fund) at time of closing. This goes to the association, not the seller. 

*An additional burden to condo fees is called the special assessment. No owner likes them, but everyone benefits from them in the long run.

*All condo fees are based upon the square footage of that particular building. All. Period. Stop asking me that question :-)

*Super duper low condo fees are NOT a good thing. Usually means your building is running on fumes with no emergency reserves.

* A reflection of a building's health is how much money it has in it's reserves (which can stave off future assessments).

*Newer buildings tend to have less money in their reserves as the life expectancy of some of the larger common elements / ticket items (roof, windows, elevators, etc) have little or deferred maintenance.

Visit My Website:
 Serious Comp Data For 
The Real Estate Junkies
...You Know Who You Are

Northern Liberties

Condo Fees   Affect   Value

Do high condo fees effect value?

Not if they're within industry average; however,
buyers need to see what they're getting for their money. Many larger buildings built say 40-50 years ago will be ALL INCLUSIVE and all utilities are included in the fees. Generally you get what you pay for - It's not like someone is getting rich off your condo fees. 

Think of it this way...

The bigger the building, the higher the condo fees. 
Low rise and mid rise buildings often do not have doormen, or a pool or a gym or parking....they tend to be unencumbered  by amenities and that fact will temper monthly fees.

Want the pool, gym, parking, doorman, shuttle bus and the like? Then be prepared to pay up...

And if a buyer comments that fees are too high for a full-service, all inclusive building then perhaps they need to be educated about what they actually get for their monthly fees!


Mark Wade 
Still at the same firm for 28 years. Clearly, they
think having me is a good idea
 ...which is a surprise to many, I'm sure.

BHHS Fox & Roach Realtors
Society Hill Office

215.521.1523 direct


The best time to get me is in the AM 
when I'm hopped up on four
cups of Maxwell House.