The different common areas of every building and or complex are accessible or available to everyone. This is why it makes sense to have them managed by an association representing the entire community. According to data from HOPB, many people live in a homeowner association, condo association, or private community. These are common types of communities. But there is often confusion between the Homeowner association and condo association.
Sometimes these terms are interchangeably used. However, they both have key differences.
As long as you are planning to stay in a condo or any other panned development, first learn the difference between a homeowners association and a condo association. Although these terms might sound familiar, they’re often confusing. Hence one might be used in place of another. But, you need to know that your property will be managed by either HOA or CA association if you want to stay in a planned development community. That is why it’s crucial to learn these differences. They include;
- Administration
The common areas of your complex and building are accessible and available to everyone. This is why it is only fair that they are managed by an association that represents your entire community. But CA often delegates its responsibilities to the elected board of directors. Hence the board community is less involved.
This is helpful to property owners because they will have fewer worries about repairs, replacements, and all elements of property maintenance.
However, homeowners also need to be aware of other issues, including their capacity for insurance coverage and fund expenses. Most people prefer condo associations because of such convenience.
In addition, CA manages different properties, including apartments and condos. These are ideal for busy executives, students, and working experts. These people are usually active and may not be interested in how the condo building operates daily. As long as the operations are run smoothly, they won’t even have the interest to recheck the types of all coverage you have for the building or the condo association emergency funds.
HOAs focus on single-family administration. But hoa condo, managed properties have better access to the board of directors. Hence property owners stand a better chance to participate in significant decision-making. Most of these properties appeal to homeowners, retirees and families.
- Management
First, CA is managed by a chosen board of directors who take charge of the association’s duties. Some of the responsibilities include:
- Taking care of most financial coverage in case of unexpected events
- Keeping an umbrella insurance policy
- maintaining the selected areas
However, the primary responsibility of the Homeowners association board is to implement the community’s agreement and ensure the rules and conditions are followed the same as with the condo association.
- Maintenance
CA takes care of maintenance and also repairs of all the main areas. Whether it’s the swimming pools, parking spaces, roofs, sidewalks, lobbies, elevators, etc., they will be in charge. The condo association will also pay for siding, roofing, and deck repairs. However, one must pay for the maintenance, repair, and replacement expenses.
Some of the maintenance expenses paid by hoa condo association include landscaping, playground areas, and sidewalks. They can offer these services on individual units. But mostly, they ask the property owner to pay for the exterior maintenance expenses. Whether they want their roof repaired, sidewalks or landscaping. This can put the homeowners under financial pressure, especially if you cannot DIY and outsource your maintenance services.
