When searching for homes or properties, it’s important to consider all the costs involved, including any Homeowners Association (HOA) fees. For many homebuyers, HOA fees can make or break a budget. However, did you know that you can search for listings that meet specific HOA fee criteria based on the combined monthly equivalent of several fields in Flexmls?
By adding the Ttl Mthly Fee Equiv field to your search, you can include a minimum and maximum dollar range for HOA fees, ensuring that your client’s budget is not exceeded.
This field takes into account several HOA fees, including the HOA Fee, HOA 2 Fee, PAD Fee, Land Lease Fee and Rec Center Fee. It calculates a monthly value regardless of the frequency of the fees. However, it’s important to note that not all fees are paid on a monthly basis, so it’s crucial to check the listing’s detail report to verify how often each fee is paid.
Searching for listings with the Ttl Mthly Fee Equiv field is a great way to ensure that your client’s budget is not exceeded by HOA fees, helping to make the homebuying process more streamlined and stress-free. Remember to use this field the next time you are searching for properties within an HOA. Your clients will thank you!