What is the difference between an HOA and a condo association?
In essence, the main difference between most HOAs and condo associations is the type of property they represent. Condominiums represent condos – apartments, while HOAs represent houses. Regardless of the association, they are both democratic institutions and therefore need to conduct elections.
How are hoa fees determined in Massachusetts?
Monthly Fees -Amount determined by # of shares. The allocation of shares is determined by unit size, location, condition, and amenities. The monthly fee covers maintenance, repairs, improvements, as well as payment of real estate taxes and interest on the underlying mortgage for the building(if applicable).
What is the purpose of a condo association?
Simply put, a condominium association is a legal organization of homeowners in a condominium project who work together to maintain property values and the quality of the neighborhood.
What is condo association responsible for?
In sum, condominium associations are generally responsible for investigating property damage claims, determining responsibility, notifying the association’s insurance carrier, and, where appropriate, making repairs to mitigate the damages.
Is HOA mandatory in Massachusetts?
Does the Massachusetts Condominium Act Apply to a Homeowners’ Association? No. Homeowners’ associations do not need to follow the Condominium Act, but they also do not get the special statutory protections available to condominium associations.
What is usually included in HOA fees?
HOA fees typically cover the costs of maintaining common areas, such as lobbies, patios, landscaping, swimming pools, tennis courts, a community clubhouse, and elevators. In many cases, the fees cover some common utilities, such as water/sewer fees and garbage disposal.
What type of legal entity is a condo association?
All condominiums have homeowner’s associations that enforce the CC&Rs. The associations are a legal entity that have enforcement powers to collect the fees, enforce the rules and regulations, put liens on homes or even initiate foreclosures should the owners fall behind on the association fees.
What is a condo association called?
A homeowner’s association (HOA) is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents. Those who purchase property within an HOA’s jurisdiction automatically become members and are required to pay dues, known as HOA fees.
Are windows the responsibility of the condo association?
Limited Common Element Windows If your agreement declares that your windows are part of the exclusive common elements than you are responsible to pay for the replacement. As long as you decide to replace windows without adjusting the measurements of the rough opening.
Who owns common area in HOA?
Technically, exclusive use or restricted common area is part of the common area owned either by the homeowners association or by all of the owners, but one particular owner holds a type of easement which gives him/her exclusive usage rights.
What do HOA fees cover in Massachusetts?
Advantages of HOA’s HOA fees generally cover trash removal, snow plowing (if you live in a state that gets snow), landscaping of outdoor common areas, cleaning of indoor common areas, and some utilities.
How do I avoid HOA fees?
How to Lower Your HOA Fees
- Reduce reserve funds. If the reserve fund has enough cash, suggest using some of those funds to cover necessary projects.
- Defer nonessential repairs. Talk to the board about deferring non-essential projects to avoid hiking HOA fees.
- Check contracts with vendors.