HOA/Condo Fees

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MRIS, Dec. 22, 2008-Many properties are part of a homeowner’s association, condo association or both. These properties are subject to the rules of the association and the association fees. These fees must be entered into MRIS. If the property is subject to both HOA and CONDO fees, enter both amounts under the “Fee” link under the “Financial” link in Keystone.The HOA or Condo/Coop Fee field is entered as the monthly amount. The “Frequency” field refers to when the fee is paid (i.e. monthly, quarterly, annual basis or none). For example, if the there was an annual HOA fee of $180, the amount under the HOA fee is $15.00 and the HOA Payment frequency is entered as “Annual.”

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