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Re:DIY B&B by makmanalp on Friday July 13, 2012 @04:56PM (#4241854)
HOAs make me want to puke. Why did you agree to join anyway?
Re:DIY B&B by blaines on Friday July 13, 2012 @05:04PM (#4241904)
It's commonplace when you purchase a condo and sometimes even a home. I do prefer to have my building's fire alarms working.
Re:DIY B&B by rprasad on Friday July 13, 2012 @05:22PM (#4242010)
The HOA for a condo generally covers building maintenance, insurance, and other necessary costs that are shared by all of the units in the complex. Thus, if you buy a condo, you do not have a choice about joining the HOA unless you buy the entire complex (meaning the building and all the units*).
Re:DIY B&B by DannoHung on Friday July 13, 2012 @05:42PM (#4242117)
Sounds like you bought a co-op, not a condo.
Re:DIY B&B by rprasad on Friday July 13, 2012 @06:23PM (#4242308)
Condo = unit owners own fractional interests in the shared areas (including the building and land).

Co-op = the cooperative owns the shared areas; the members own shares in the coooperative entity.

Both = the entity (HOA/cooperative) pays for the maintenance/other costs of the shared areas. Co-ops collect the money for these expenses through monthly dues and yearly assessments. I do not know how co-ops collect for these expenses.

My unit is a condo; I fractionally own portions of the building and land. My condo pays for the expenses associated with the common areas through monthly dues and yearly assessments.

Re:DIY B&B by blaines on Friday July 13, 2012 @05:32PM (#4242071)
Great explanation. Thank you.
Re:DIY B&B by hell0_th3r3 on Friday July 13, 2012 @05:27PM (#4242034)
ever had a neighbor who suddenly decides to stop caring for their property? when you live eighteen inches away from them, it matters. this is the allure of an HOA for some - it enforces minimal standards. you are of course free to not live there if you think its too uptight