Negligence in Maintenance Of Common Areas: A Lawsuit Waiting To Happen
Negligence in maintenance is one of the fastest ways an HOA or condo association can land itself in trouble. The truth is, associations are supposed to keep their communities in good condition, but when they don’t, the results are almost always negative. At the end of the day, homeowners will notice, and if the board […]
Condo Fees: What Are Unit Owners Paying For?
Unit owners have an obligation to pay condo fees to their association. These fees help cover the costs of operating and maintaining the condo building and its common areas. Both unit owners and condo boards need to comprehend the intricacies of these fees and their operational mechanisms. What are Condo Fees? Condo fees are regular […]
What Is Homeowners Association Insurance? What Does It Cover?
Homeowners association insurance is essential to a community’s long-term financial health. It protects an HOA from financial loss resulting from covered perils. That said, it is important to understand what HOA insurance covers and how it affects the owners. What is Homeowners Association Insurance? Homeowners association insurance is a policy that specifically applies to HOAs. […]
Condo And HOA Special Assessments: Should Homeowners Pay Up?
Homeowners might encounter an HOA special assessment every once in a while. Although different from regular dues, a special assessment also serves as a way for an HOA to secure funding. Both homeowners and board members should understand the ins and outs of special assessments. What is an HOA Special Assessment? A homeowners association special […]
