From the well-manicured landscaping to the summer concerts in the park and now with the amenities to come with The Resort in Phase II, there is no question that Playa Vista delivers a great lifestyle. As a resident of Playa Vista this is all paid for by you, me and our neighbors.
In this post we will cover the fees associated with living in Playa Vista, what you get in return and a couple tips for negotiating the Community Enhancement Fee (this is the one you may not have to pay).
Mello Roos (Playa Vista Phase I)
What is Mello Roos?
Along with your Los Angeles County property tax (approximately 1.1% – 1.2%), Playa Vista home owners also pay a Mello Roos tax. In order to develop our community, the city and the developers with 2/3rds approval from voters issued bonds under the Mello Roos Act of 1982. This bond issuance paid for our infrastructure such as sewers, parks, traffic improvements, utilities and fire station.
How much is it and how long will it last?
Mello-Roos bonds are paid for by a special tax on your property that will be levied for up to 40 years from the first home owner. The annual tax is derived from a somewhat complicated calculation, but the following chart will show you what you will pay according to the square footage of your home. On the chart, find the square footage range for your home and then look to the, “Actual Special Tax,” column to see your Mello Roos tax for 2014-2015. This amount can vary slightly as the tax can increase up to 2% per year.
If you are considering buying in Playa Vista Phase II you’ll find that these homes do not have a Mello Roos tax. The cost of developing this part of the community’s infrastructure was paid for by the builders. This expense is reflected in the sales price of the new homes.
Playa Vista Community Enhancement Fee – Who pays: the buyer or the seller?
What is it and what does it cover?
When a home is sold in Playa Vista, 0.75% of the purchase price is paid to Playa Vista Community Services (PVCS). These funds are used for the common good of Playa Vista. The concerts in the park, outdoor movie nights and seasonal events are a few examples. Plus, a portion of the funds are used for the conservation and protection of the Ballona Wetlands.
Who Pays? (Here’s the tip on how you may be able to avoid this fee)
Depending on the current market conditions in Playa Vista either the seller, buyer or a combination of the two will pay this fee. Typically, the seller has paid the Community Enhancement Fee. But, in a sellers’ market, like the one we are currently experiencing, a savvy Playa Vista Realtor will explain to their buyers that offering to pay half or all of this line item can be the deciding factor in getting an offer accepted over others. On the flip side, when representing the seller, your listing agent should be encouraging the buyers’ agents to include the Community Enhancement Fee as a part of their client’s offer. Keep in mind, as the market changes so should your strategy for negotiating the Community Enhancement Fee.
Playa Vista Parks and Landscape (PVPAL) HOA
The PVPAL HOA, also known as the master HOA, is $230 per month (subject to change) which is paid by all home owners in Playa Vista Phase I and Phase II.
The PVPAL HOA includes:
- Basic cable with one standard box
- High-speed Internet
- Alarm service
- Gym Access at both the Center- Pointe Club and The Resort
- Pool Access at both the Center- Pointe Club and The Resort
- The maintenance and use of all parks, fields and courts
- 24-hour community security personnel
Playa Vista’s Beach and Campus Shuttles
The beach shuttle and campus shuttle are paid by PVPAL, The Campus and LA County respectively. You can check out the 2015 Free Beach Shuttle schedule on www.playavista.com’s blog, or click this link to the information, Free Beach Shuttle.
HOA Dues for Individual Buildings and Detached Homes
Each building’s HOA is different and the prices can range from $150 to $800 per month in Phase I and from $75 to $700 in Phase II. The variance in price depends on the amenities offered by the building and the number of units in which to divide the cost. Some of the more expensive HOAs are the result of more elevators, a lesser amount of units in the building, a pool or even a concierge. Here’s what is typically included:
- Landscaping in and around the building
- Trash and recycling removal (may not be included with detached properties)
- Water (may not be included with detached properties)
- Reserves for maintenance of the common areas
- Management company fees
- Fire and Liability Insurance for common areas
- All expenses related to operating entry systems, elevators, lighting and security monitoring