San Francisco, California Condo Ownership Costs

San Francisco soft-story and mandatory retrofit programs can produce multi-year capital plans funded through reserves or special assessments. Request engineer reports, permit status, and how the association allocates costs across units with different square footage.

Earthquake insurance may be excluded or carry high deductibles on master policies. HO-6 policies should address loss assessment and interior damage gaps after seismic events.

• Confirm retrofit completion status and remaining work in board packets
• Obtain master policy earthquake limits and exclusions
• Review special assessment votes tied to structural steel or foundation work
• Compare wood-frame walk-ups with concrete high-rise associations

California Civil Code Davis-Stirling Act reserve study requirements apply to San Francisco associations, but funding levels vary widely on older buildings. Request percent-funded lines for roofs, elevators, and facade work rather than trusting marketing dues alone.

Construction defect and neighbor disputes can inflate legal expense lines in minutes. Review litigation disclosures in resale packages carefully.

• Request the reserve study and three years of actual reserve contributions
• Read minutes for open litigation or neighbor disputes
• Ask about elevator modernization timelines on older towers
• Compare professionally managed buildings with small self-managed HOAs

Some San Francisco parcels carry Mello-Roos or community facilities district assessments billed outside HOA dues. Confirm all recurring assessments on the title report before modeling monthly cost.

Buyers comparing buildings on the same block can still face different assessment burdens based on subdivision vintage.

• Review title commitments for Mello-Roos and CFD line items
• Ask the HOA manager whether any district assessments pass through dues
• Model total carrying cost including non-HOA assessments
• Compare newer SOMA towers with older walk-up parcels

San Francisco Office of the Assessor applies Proposition 13 base-year rules with supplemental assessments after purchase. New buyers should budget on acquisition price even when the seller enjoyed a long-held low base year.

Transfer taxes and supplemental bills can arrive after closing, affecting first-year cash needs beyond HOA dues.

• Request the seller's tax bill and note base year if disclosed
• Plan for supplemental assessment timing after purchase
• Verify homeowner exemption eligibility for occupant buyers
• Compare SF tax carrying costs with Los Angeles using separate inputs

Tenancy-in-common structures split maintenance differently from traditional condos and may lack the same reserve discipline. Read fractional interest agreements and shared repair obligations before comparing dues with condo HOA norms.

Financing and insurance requirements for TICs differ from warrantable condo products. Confirm lender program fit early.

• Identify whether the interest is condo or TIC before modeling HOA norms
• Review shared repair agreements and assessment voting thresholds
• Confirm HO-6 or master policy structure with your insurer
• Ask about past special repairs split across TIC owners

Using rough inputs, $925,000 SOMA one-bedroom, 20% down, $1,180 HOA from the resale budget, San Francisco Office of the Assessor tax after Prop 13 supplemental (~1.15% effective, ~$887/month), HO-6 $2,760/year ($230/month), plus a $28,000 soft-story retrofit share over 36 months ($778/month) → roughly $6,420/month before PMI.

Set that against a pre-war walk-up at $780K with $620 HOA but open elevator modernization in the minutes — the lower HOA line can still lose when Davis-Stirling reserve funding catches up.