Posted by: phillipsre | April 21, 2015

Considering an HOA?

iStockPhoto_CondoBuildingAre you considering purchasing a new condo, but not sure what to expect with the Homeowner’s Association (HOA)? This article breaks down some of the Myths and Realities of living in an HOA.  For a lot of condo owners, one of the main reasons for purchasing a condo is the freedom from house maintenance it brings. With a productive and efficient HOA your community will be well taken care of, issues like yard maintenance, window cleaning and keeping the grounds looking great will be taken care of by the work of the HOA Board of Directors. In most HOA’s you can be as involved (or un-involved) as you would like. Another added bonus of living in a Condominium community are the extra amenities you might not get in your single family residence, things like pools, work out rooms and community rooms are a common feature in a lot of communities. This article also points out a lot of the characteristics you will find with the variety of neighbors and members of the community and describes how the Board of Directors works in general. The Board of Directors are responsible for enforcing the rules and regulations and they will make sure the maintenance issues are addressed. Not all Boards and communities are the same, so it is a good idea to interview or chat with the Board of Directors and thoroughly review the community’s Rules & Regulations or Covenants, Conditions and Restrictions (“CC&Rs”) prior to making an offer on your condo, to make sure you can live with the rules. A lot of communities also enlist the help of a professional Association Manager to make sure all the laws are being followed correctly, to manage their accounting and to utilize their vendors. Phillips Real Estate Services has an established team of Community Association Managers that are focused on making sure each association is well taken care of.

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