In the Monmouth Beach and Long Branch beachfront market we have two two types of high rise condominiums, full service and limted service buildings. Very often when talking to clients exploring their options the question often comes up, "Full service vs. limited service condominiums, what's the difference?
Full service condominiums are generally larger building with more apartment and offer more services to the owners. They often have an onsite management office, a concierge desk manned 24 hours a day, 7 days a week, valet parking, pool, tennis, social rooms and fitness rooms. There is also a social component to living there, with a wider range of social activities available to residents. Because of the additional services they offer, they generally have higher association fees.
Limited service condominums have fewer apartments, no concierge desk and no valet parking. Although some have pools, tennis courts are rare and, if there are fitness rooms they are generally more modest than those in the full service buildings. Because of the fewer number of apartments in the building, 24 apartments is a common number, they don't have the social aspect the full service buildings offer. Although there is no concierge, access to the building are restricted with electronically locked lobby doors. Because they don't offer the full range of services found in the full service buildings, the monthly association fees are lower than in the full service buildings.
Which is better for you? That's a personal decision. We suggest you look at both, compare the upside and downside of both so you can make an informed decision.