Condominiums give owners the benefits of owning a home of their own while allowing them to take advantage of many of the same benefits they’d enjoy as renters. They have access to community facilities, get to enjoy beautifully landscaped grounds, and are able to escape the frustration of maintaining those areas on their own. The condo association makes it possible.
What Is a Condo Association?
Condo associations work similarly to homeowners’ associations. They’re governed by a board of directors and are responsible for ensuring that the community stays safe, clean, and in good condition at all times. Condo owners pay dues to the association every month. The amount of the dues varies from each association and can increase as needed to keep up with inflation.
What the Association Can Demand of Owners
Condo associations are in charge of making sure every owner and resident has the best living experience possible. With this in mind, they’re free to require that residents follow certain policies and satisfy requirements while living in the condo. Here are a few things the association can demand of each tenant:
- Valid insurance for each unit
- Respect toward neighbors
- No excessive noise
- No renting without consulting the association
In exchange for meeting those demands, residents and condo owners get to enjoy a peaceful and comfortable community.