If you’re like many buyers looking at homes for sale in downtown Los Angeles, you’ve probably learned a little about homeowners associations, or HOAs – but what are they, and what do they do?
What is a Homeowners Association?
A homeowners association is a group that requires membership if you live in a certain building or community. You’ll have to pay monthly or annual dues for upkeep of the common areas and the building.
How Much Does HOA Membership Cost?
HOA membership costs vary by community, but on average, you can expect to pay between $200 and $400 per month.
What Does an HOA Do?
Your HOA’s main goal is to preserve property values for all members. It does that by maintaining common areas, sometimes providing security and other amenities, and conducting maintenance or performing repairs to things that are jointly owned within the community.
HOAs hold residents accountable for following the group’s rules, which can involve things like:
- What types (and what sizes) of pets you can have
- What paint colors you can use
- What types of window dressings that face outward that you can use
- Where you can park
Are You Buying a Loft or Condo in DTLA?
Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.
While you’re here, check out our:
- DTLA Arts District lofts for sale
- Historic Core lofts for sale
- DTLA Little Tokyo lofts for sale
- Bunker Hill lofts for sale
- City West lofts for sale
- South Park lofts for sale
- Fashion District lofts for sale
- Financial District lofts for sale