The Primary Differences Between a Homeowners’ Association and a Condo Association
In some cases, the differences between a condo association vs. HOA can seem tough to distinguish. However, there are some primary differences that can help you understand the two.
There May Be Parking and Fees Differences
Some of the primary distinctions between condo and homeowners’ associations relate to the types of fees they charge. For instance, condo associations may be more likely to charge for parking. Here are some other examples.
· Condo associations may charge fees for parking
· Homeowners’ associations may charge membership fees to contribute to bylaws
· Condo fees may be higher than HOA fees, since there are usually more common areas to maintain
The Associations May Provide Different Services
An HOA often creates and enforces community bylaws. Some of the services the typical HOA provides may include:
· Oversight of and regulations for single-family homes
· Maintenance of common areas, including play parks or green areas
· Repairs for certain common spaces or home exteriors
· Landscaping of some lots
By contrast, condo associations may have more common services to cover. These services often encompass:
· Oversight of and regulations for multi-family homes
· Maintenance of building exteriors, hallways, lobbies and other common features such as elevators
· Repairs for community parking spaces or swimming pools
Distinguishing a condo association vs. HOA can seem difficult, but these primary differences can help clarify the two. Review this list if you’re considering purchasing a home that belongs to an area association.