What is the primary source of income for condominiums?

The primary source of income for condominiums is the monthly fees collected from owners. These fees, often referred to as homeowners association (HOA) dues, are essential for the maintenance and management of common areas, amenities, and services within the condominium complex. They typically cover expenses such as landscaping, maintenance, utilities, insurance, and staff salaries, ensuring that the property remains well-maintained and desirable for residents.

Other income sources like property sales, government grants, and investment income exist, but they do not provide the regular, ongoing revenue that monthly fees do. Property sales can be infrequent and do not contribute to the consistent cash flow needed for operational expenses. Government grants are generally not a reliable source of income for private condominiums. Investment income may arise from reserves or other assets, but it typically forms a small portion of a condominium's overall revenue compared to the predictable income generated through monthly fees.