Condo CC&Rs and HOA By-Laws
When purchasing a condominium, consider the rules and regulations you will be required to live by. These rules and regulations, usually found in the condominium By-laws and CC&Rs, are created with the intent of providing a harmonious atmosphere within the community.
Things you take for granted as a single family homeowner or renter may become an important issue after moving into a condominium community. Are pets allowed in the community? Will there be sufficient parking for my weekend guests? Can I sublet my unit if a sudden job transfer takes me to another part of the country? What about alterations and additions to both the inside and the outside of the building? Who is responsible for the leaks inside the building? If you are considering a senior development, are there any restrictions for children who are visiting?
Since different rules apply in different communities (and differ in all parts of the country), make sure you are familiar with what is expected of you as a home-buyer in a condominium community. Read the community by-laws and CC&Rs before you purchase in a condo community.
If you are considering a condo purchase, talk to a real estate agent that is familiar with condo communities in your area. A condo real estate agent should be familiar with normal practices of a Homeowner’s Association (HOA), as well as whether the HOA fee is reasonable for the area.
Liz Suto
Phoenix Condos For Sale
Scottsdale Condos For Sale