First-Time Condo Buyer? What to Expect from Your New Homeowners Association
Every owner of condominium property automatically becomes a member of a homeowners association, otherwise referred to a "HOA" throughout the United States or a "Strata" in Canada. With that membership come certain rights and responsibilities. The primary right that the owner has is to vote at HOA meetings and elect board members. Responsibilities include payment of condo fees and assessments, compliance with association by-laws and rules, and maintaining a condo unit in conformity with those by-laws and rules. Let's take a quick look at various other terms you may hear about from your new HOA. Declaration of Condominium and By-Laws…