HOA and condo basics
Communities with associations can be great when you understand the rules and costs. Here is what to review before you offer.
What dues usually cover
- Exterior maintenance, landscaping, or amenities.
- Master insurance for shared structures or common areas.
- Reserves for future repairs and replacements.
Rules and restrictions to check
- Leasing limits, pet policies, vehicle and parking rules.
- Architectural controls for exterior changes.
- Short term rental policies if that is a future plan.
Documents worth reading
- Budget and reserve study to gauge financial health.
- Recent meeting minutes for upcoming projects or issues.
- Insurance summary to understand coverage and gaps.