I have encountered cases where monthly HOA fees suddenly increased significantly. A condo owner in Burbank was paying their usual monthly fees when they received a notice from the management about a special assessment during the insurance renewal period. When faced with such cases, the first concern is whether this level of HOA fee is common in Burbank or if it is an issue specific to that particular complex.

The median price of condos in Burbank is around $699,975 based on downtown Burbank, and the overall median price for condos in the city was reported to be around $770,000 as of Q4 2025 (Zillow, StrongRealtor.com, 2026 data). Compared to the overall median home price in Burbank, which is around $1.16 million, condos are definitely more affordable in terms of entry price.

So why are HOA fees increasing so much? Typically, California condo HOA fees range from $300 to $400 per month, but recently, rising reinsurance costs and litigation risks have caused condo insurance premiums to increase significantly nationwide, especially in areas like California that are at risk for wildfires (Insurance Information Institute). This trend is not just a story for specific complexes but is repeating across the California condo market, so it is safer to look at how much fees have increased over the past few years rather than just believing that lower fees are a good sign. When insurance premiums rise, management has no choice but to increase fees or collect special assessments to cover the difference, and it is not uncommon for monthly fee increases of $200 to $700 or special assessments per unit ranging from $1,000 to $5,000 to occur (Silver Creek Asset Management, 2026 survey).

Additionally, the California SB 326, known as the Balcony Law, enacted in 2019, should also be considered. Structures exposed to the outside, like balconies, must be inspected every nine years, with the first inspection deadline set for January 1, 2025. If repairs are needed based on the inspection results, those costs will be reflected in the management's reserve study, meaning that older buildings are more likely to see increases in fees or special assessments after inspections.

So what should you check before purchasing? It is essential to request the financial statements and budget for the last 2-3 years to verify the reserve fund balance and to look for any pending or scheduled special assessment items in the management meeting minutes. If the reserve fund is less than 10% of the budget, it may be classified as a non-warrantable condo according to Fannie Mae or Freddie Mac standards, which could lead to unfavorable loan conditions, so it is advisable to check with your loan officer in advance.

In summary, the items to check before purchasing are as follows:

• Review the management's financial statements and budget for the last 2-3 years
• Check the results of the reserve study and the reserve fund accumulation rate
• Verify any pending or scheduled special assessments
• Check the management meeting minutes for any history of lawsuits or disputes
• Confirm the rate of increase in insurance premiums during the recent renewal

Most of this information can be obtained by requesting it in writing from the management. Especially in property descriptions or agent guidance, details that could lead to a fee increase are often not clearly presented, so it is crucial not to skip the process of obtaining and verifying the information directly (refer to the NAR condo buying guide). Particularly in areas like Burbank, where new constructions and older complexes are mixed due to downtown redevelopment, it is worth noting that even with the same HOA fees, new constructions are likely to increase in the future while older complexes often maintain already increased fees.

In markets like Burbank, where entry prices are low but there is a significant proportion of older buildings, it is essential to consider not just the sale price but also the history of fee increases and the status of the reserve fund to accurately gauge the actual holding costs. This article does not constitute investment or legal advice, and it is recommended to consult with real estate and insurance professionals before finalizing any contracts.