Condo communities generally use condominium associations to properly maintain community common areas such as building exteriors, roofs and roads. However, it costs money to maintain a condo community, and all community members pay for such maintenance through assessments, fees or dues. Typical condo association assessments go toward sewerage and water bills, lawn cutting and community insurance.
Condominium Corporations vs. Homeowners Associations: How they differ
Many do not understand the differences between Condominium Corporations and Homeowners Associations.
It is important to note that Homeowners Associations and Condominium Corporations are separate legal entities with separate rights, responsibilities and available remedies. Homeowners Associations are not restricted to condominium developments. A Homeowners Association can exist and operate independent of any relationship with a Condominium Corporation.
- Financial Reserve Study and Budget
- Condition Assessment
- Building Forensic Studies
- Assist with Architectural Design and Structural Engineering