What is 'Homeowner's Association'?

We are looking for a condo, and some search results show properties listed as 'Homeowner's Association'. What the heck is that, and does it mean we can look into it or not?

Thanks!!

All condo owners belong to an association that governs and manages common areas of the development.

When looking at these properties you should ask to review the condominium covenants and restrictions (rules), the prospectus (offering plan) and (if an existing community) as for a copy of the budget and an amount of what your units charges will be.

Feel free to FM me with any questions.

All condo owners belong to an association that governs and manages common areas of the development.

When looking at these properties you should ask to review the condominium covenants and restrictions (rules), the prospectus (offering plan) and (if an existing community) as for a copy of the budget and an amount of what your units charges will be.

Feel free to FM me with any questions.

You can FM me, too if you have any questions.
My job deals with Directors and OFficers insurance policies for HOAs.
THe Association is run through a board of directors and officers. They're the ones who decide and enforce the covenants/restrictions.

the money goes to the maintanance and upkeep of the grounds...insurance for the OUTSIDE of the building (you have to provide for the inside)...any ammentities, staff, etc...


also keep in mind that this fee must work into your mortgage approval...and your debt to income ratio...along with the insurance for the inside of your apartment

OK... so does this mean we have to be members of this Association in order to purchase? Or are we just under more scrutiny by the current members, like we have to be approved? Extra fees?? I'm still confused...

I'm asking because when we do property searches on MLSLIrealtor.com, it asks you to specify what you're looking for... condo, co-op, timeshare, or Homeowner's Association... and I don't know what the difference is.

Thanks for your help!

hmmm...I'm not sure what they mena (and NY could be different than CA)

Here...you are a member when you buy and pay the dues...My concept was that it was similar to a co-op board