How do I know if HOA will increase or have a big payment?

Review the \"Reserve Study\" and the \"Annual Budget\" before closing. In 2026, look for a Reserve Funding Level of at least 70%; anything lower is a red flag for an upcoming \"Special Assessment\" (a large one-time payment). Also, check the meeting minutes from the last 6 months for discussions on \"deferred maintenance\" like roofing or siding—these are the primary drivers of sudden, massive fee increases.

This is a great thing to be looking into before buying a condo. When purchasing a condo the seller is required to supply the buyer with the most recent year financial statement, declaration of condominium, bylaws, and rules of the association, articles of incorporation, FAQ’s, and recent financial statement. The buyer has three days to review these documents with the ability to cancel if not satisfied. I would also ask your Realtor to request the monthly meeting notes to see if there are any current pending or upcoming increases being discussed. Once you’re under contract an HOA estopple will be obtained which will return the results of any current pending upcoming assessment as well allowing you to review prior to closing.

If you’re renting, you usually won’t get hit with a direct HOA special assessment—but it can still affect you. The owner (landlord) pays it, and they may raise your rent, not renew your lease, or pass costs indirectly. To protect yourself, ask: “Has the HOA approved any special assessments or big repairs?” and check if rent increases are capped in your lease. Also look for signs like ongoing construction, aging buildings, or talk of repairs—those often mean costs are coming. Bottom line: you won’t get a $20K bill, but you could feel it through higher rent or instability.