Condo Association Management Blog

Condo Associations and HOAs - Are They Right For You?

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Sick of renting, but not ready to spend your Saturdays on a lawn mower? Often featuring desirable locations, minimal maintenance, and smaller price tags than single-family homes, it’s no wonder young homebuyers find condos attractive. But living in a condo association can present some unique challenges. Ask yourself these questions to make sure a condo living is right for you.

Are the condo fees worth it?

Condos are clusters of individually-owned units typically sharing common walls, landscaping, and driveways. To fairly maintain these common areas, condo association owners pay a monthly condo fee for routine and emergency maintenance including lawn mowing, snow plowing, painting, and roofing repairs.

While freedom from yard work can be a perk, condo fees—which can be several hundred dollars—will take a bite out of your budget. Plus, most condo associations only maintain property from the walls out. That means when a bathroom pipe bursts, you still have to play plumber.

Can you afford a special HOA assessment?

While monthly condo fees cover ongoing maintenance and contributions to a reserve fund for small emergency repairs, condo associations may assess separate fees for unexpected expenses or to fund major property improvements like repaving. If you buy a condo, be prepared for fluctuating or increasing condo fees.

Can you play by the condo association rules?

Every condo association has rules. While some condo associations’ rules may provide owners with most of the liberties of owning a stand-alone residence, other associations’ rules can be restrictive—or downright bizarre. Every condo association is different, but examples of rules you might find include: no dogs, no window air conditioners, no kids, no late-night laundry, or no flags or outdoor decorations.

Condo associations can sue over violations, but neighbors can make your life miserable even without getting lawyers involved. The bottom line? Read the condo documents (which include association rules) carefully before purchasing a unit. And if your style is easily cramped, you may want to avoid condos all together.

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