As a community, Playa Vista’s primary focus is on resident’s comfort and enjoyment – and it really shows. From the brand new infrastructure and construction and 20+ parks, to the outdoor movie nights and concerts, living in Playa Vista is so much more than simply owning a home. To a prospective buyer or a new homeowner, understanding how each fee corresponds to everyday life can be a little daunting without the right information. With four separate fees to consider, the Playa Vista Pros help you break down the details and understand the benefits of each.
- Playa Vista Park And Landscapes HOA (PVPAL) – also referred to as the Master HOA, this fee is paid by all Playa Vista residents in Phase I and Phase II. It covers basic cable and high-speed internet, security alarm service, gym and pool access at both the Center- Pointe Club and The Resort, maintenance and use of all parks and courts, and 24-hour community security personnel. In addition to these services, this HOA also keeps Playa Vista’s complimentary Beach and Campus shuttle running.
- Individual Building HOA – with monthly fees ranging from $75 to $700, this HOA varies greatly depending on each detached home or building’s amenities. While an individual HOA typically covers landscaping in and around the building, trash and recycling removal, some utilities, Fire and Liability Insurance for common areas, and Management company fees, higher HOAs may include concierge service, a gym exclusive to building residents, or a building with a lower number of units.
- Mello Roos – a type of financing used to build new communities’ infrastructure in formerly undeveloped land throughout the United States, Playa Vista’s original builders used this type of bond to develop the original community. Initially, this is what made infrastructure such as sewers, electricity, road and traffic improvements, and the Playa Vista fire station possible. It now exists as an annual tax paid by homeowners based on square footage, and the amount varies slightly each year until the 40-year bond is paid back to the city of Los Angeles. Note: Mello Roos tax is not paid annually on homes purchased in Phase II but factored into the purchase price of each home instead, as the infrastructure costs were paid by the builders.
- Playa Vista Community Enhancement Fee – This is a one-time fee that supports the community’s many events such as concerts, movie nights, and on-going conservation of the Ballona Wetlands, and is a private transfer fee. When a home is sold, 0.75% of the purchase price is paid as the Community Fee. This fee occurs each time a home is sold in Playa Vista, and commonly is negotiated during the offer process as to who will pay.
Still have questions about fees and value of the Playa Vista community? The Playa Vista Pros have the answers. Contact us today for more insight on all real estate costs in Playa Vista.