When you buy a condominium, you’re obligated to join the community’s homeowners’ association, or HOA. But what is an HOA, and how does it work?
What is an HOA?
A homeowners’ association is a group of individuals – usually elected – who charge you a set fee for membership. That fee then translates into grounds maintenance, maintenance and upkeep of common areas, and the running of the HOA itself.
The purpose of an HOA is to maintain property values, so dues that residents pay usually go toward:
- Clubhouses and planned activities for residents
- Common area maintenance and upgrades
- Exterior building maintenance
- Fitness rooms
- Lawn care and landscaping
- Parking garages
- Parks and play structures
- Swimming pools
Homeowners’ associations also have rules that all members must abide by. Remember, the purpose of an HOA is to preserve property values. Some rules might involve the type or size of pets you can have in your home, what kinds of modifications you can make to your yard or what you can do on your patio, and the types of window coverings you can use that people can see from the street.
Most people who buy a condo in LA are required to join homeowners associations.
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If you’re thinking about buying a condo in Los Angeles or a nearby community, call us at 213-254-7626 or contact us online.
While you’re here, check out our:
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