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Condo Damage Caused By Contractors Hired By The HOA: Who Pays?

August 28, 2020 by Michael Addison

For those who live in a condo, they know that there are numerous advantages that come with this living arrangement. Living in a condo means that other people are going to be responsible for landscaping and common areas while homeowners are still able to build equity in the home. At the same time, the HOA has quite a bit of power and one of the biggest concerns that people might have involves who pays for the damage in the event that something in the building has been damaged. There are a few important points to keep in mind. Roof Replacement Contractors Sometimes, the HOA might hire contractors to work on the roof. During this process, there might be a leak that develops in the roof. This … [Read more...]

Filed Under: Mortgage Tips Tagged With: Contractors, HOA, MortgageTips

Four Common Headaches Of A Homeowners Association

November 20, 2019 by Michael Addison

When you are looking to purchase a home, you might hear a lot about something called a homeowners association, often shortened to HOA. While there are benefits of having an HOA in a living community, these benefits also have their drawbacks. There are a few common headaches that people often experience when they move into a community that has an HOA. Anticipating these problems ahead of time can help everyone prepare for what they might encounter. The Maintenance In The Common Area Whether you are living in a condo or in a neighborhood, the HOA is supposed to maintain the community common areas. This includes pool maintenance, lawns, landscaping, gyms, and more. In some areas, your HOA might … [Read more...]

Filed Under: Real Estate Tagged With: HOA, Real Estate, Rules and Regulations

What Are The Pros And Cons Of Covenants, Codes and Restrictions?

August 21, 2019 by Michael Addison

There is a joke about gated communities that says the walls are not just there to keep the people out but to keep the residents in. Living in a gated community that is subject to the rules of a homeowners' association (HOA) can be a pleasant or a severely irritating experience, depending on the perspective a homeowner has about lifestyles. The Good, Bad, And Ugly About CC&Rs Gated and master-planned communities may have an HOA and also may have covenants, conditions, and restrictions (CC&Rs) that are part of the property rights (or lack thereof) that a home buyer accepts when they buy a property in those neighborhoods. The developer records a registered copy of the CC&Rs with the … [Read more...]

Filed Under: Real Estate Tagged With: HOA, Real Estate, Rules and Regulations

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