Most people know what a homeowner’s association is, also known as an HOA. But what is a condo association? Knowing the difference can give you a better idea of what to expect before you decide if you want to deal with one or not.
Understanding What is Covered
With a condo association, there are usually more items that are covered when it is time to make repairs, according to Kevin Davis Insurance. That is because condo associations tend to focus on community living, so they will make areas such as the swimming pools, sidewalks, and parking lots, to name a few. If you’d rather not worry about these types of repairs yourself, you might be satisfied with what a condo association has to offer.
Fees for Condo Associations Can Vary
Condo association fees can vary. Generally speaking, the bigger the property, the more an individual will need to pay. Unlike a homeowner association, the condo association tends to take the value of the whole community and divide it. This might not mean much to some people, but it is helpful to know.
If you are thinking about joining a condo association, it can help to know what is covered and how the fees can vary. This can ensure a more enjoyable experience at your new home.