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A homeowners association, or HOA, is an organization led by an elected leadership team that oversees and controls certain aspects of your condo, subdivision or other planned community. There are ...
Increases in homeowners-insurance costs mean that homeowners association fees are on the rise as well. Homeowners may face large one-time special assessments in addition to increases in regular ...
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents.
The HOA governs the CID based upon the incorporated covenants, conditions, and restrictions (CC&Rs) which were recorded when the property was subdivided. [citation needed] The CC&Rs will outline the financial budgeting guideline for the HOA in determining the dollar amount in maintenance fees for assessing the owners. In a wholly owned CID ...
Condominium (a.k.a. commonhold and strata title) – Ownership of an apartment or house is assigned to an individual, but common areas (e.g. hallways, heating system, elevators, exterior areas) are controlled by the homeowners' association. Fees are charged to the condo owners for maintenance of the common areas. These are referred to as "condo ...
But the HOA covers the insurance for the condo’s exterior and shared spaces. After a wildfire “eliminated” a town nearby (the location is undisclosed), she says that insurers re-assessed ...