Condo Basics 101 – What is an HOA?

If you remember last week we covered what a condo was, and an HOA was mentioned. In short an HOA – or a Home Owners Association – is an organization set up by the developer of a condo community designed to manage the association during and after the development is being constructed. During the early construction period the developer runs and has full control over the HOA. At a predetermined time the developer begins to transition control to a self managed association, or one run by an elected board. The HOA is responsible for collecting HOA dues, paying subcontractors, and maintain common areas. Take a look at the video, please ask questions, we would love to be able to help answer any that you may have!