Living in a community association is the least understood form of residential ownership. Three examples: Jane T. moved into her condominium and got hit with an unexpected $9,000 special assessment three months later! Tony J. learned he could not operate his business from his condominium after signing the contract. Susan B. had to get rid of her cherished dog simply because he was too big! Buying into a condominium or homeowners association legally binds the owner to follow pages of community rules as well as obligating them to support the community association financially.
Condo Buying and Ownership Made Simple: Tips to Save Time and Money clearly informs the reader how to live happily in these communities and avoid the many pitfalls that catch the uninformed.
Featured in this book are "Kay's Exclusive Condo Buyers Checklists." Worth the price of the book by themselves, the checklists provide the buyer with a simple and effective method to untangle confusing community association documents. The checklists also contain valuable information for the owners who may not be familiar with his or her association's documents and rules.
This book explodes some of the myths like: You can tell a condo is well managed if the maintenance fee is low. I don't need to read my association's governing documents. They are only for the board of directors.
My condominium is brand new, so I don't have to worry about any special assessments for a long time. It also warns buyers that they may not be permitted to:
Run a business in their unit. Have a garage sale. Put up a 'For Sale' sign.
Have a pet. Rent their unit. Display a flag. Park a company car overnight. Install a satellite dish for TV.
With hundreds of tips, pointers, and answers to questions, this non-technical book is well organized and a very friendly read. Also, included are a glossary of community association terms and a thorough index.
Some of the subjects covered are:
The difference between a Condominium and a Homeowners Association.
Why live in a condo? Should I purchase a new unit instead of a resale?
What laws govern a condo?
Who takes care of the management, maintenance, repairs, and replacements?
What are some of the owner's restrictions?
Why have association meetings? Association finances are explained.
Who makes the rules of the association?
What is the purpose of the replacement (reserve) fund?
What is the operating budget?
Who can help me make the best decision?
What documents should be reviewed before you purchase?
What are the association's and owners' responsibilities and rights?
