In today’s blog post will discuss how to deal with Boston condo associations, also known as home owners associations( HOA). Consist of board members need who hopefully have strong leadership skills for operating a Boston condo building smoothly. Homeowners vote for the individuals that will lead their association and make decisions on a day-to-day basis. However, if you have never been part of a homeowners’ association, you may not know what the duties entail. Here are some Boston real estate tips that can help you understand the role the HOA plays in your community.
What is Condo Association?
When you purchase a Boston condo for sale, there are monthly fees that must be paid to the condo association while you reside there. All residents must contribute equally to repair and maintain the development’s building(s) and common area such as roofing, taxes and fitness rooms. Typically, the more amenities the development has, the higher the condo fees. The goal is to maintain the quality of life for residents and protect property values.
Covenants, Conditions and Restrictions
These are the rules in addition to city ordinances and restrictions that all residents must follow. The CC&Rs can cover everything from whether you can have a satellite dish installed on the side of the building to whether pets are allowed. These rules can impact your rights as a Beacon Hill homeowner. Make sure you know what the condominium guidelines are before you sign the paperwork and move in.
Ensure Compliance
The rules include fines levied by the condo boards for units that are out of compliance with the CC&R. Items that may result in additional fees include a yard that is in disrepair, building changes that were not approved by the community, unauthorized solar panel installation, etc. Check the fine print for their environmental practices, from approved landscape styles and fertilizers to sprinkler systems.
Our Boston real estate staff works with homeowner associations to update CC&R, rules and regulations. Contact us today for a free consult and receive recommendations on how to institute best practices to your financials and meetings.
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