What does an HOA fee actually cover?

Typically exterior maintenance, common areas, water, trash, the building's master insurance, and money set aside in reserves for future repairs. In Uptown and Oak Lawn, fees can run from about $300 to more than $1,000 a month depending on the building and what is included. The fee is part of the true cost of the property, and I put it in front of you before you fall in love with a number that does not tell the whole story.