03/14/2024
There are two basic types of HOAs/COAs. The ones that are for "condos" and the ones for "single detached homes".
The difference between the tow is that with the "condos" the association usually assumes the cost of all/most of the exterior maintenance (roof, siding, paint, cleanup, common areas, etc.) with significant costs and more chance of money "disappearing".
With the "single homes" associations, they only share the costs of common areas and possibly lawn maintenance, at small annual cost.
This is why you don't usually hear about problems with "single homes" associations, however, the "condo" associations are usually a "MESS"! Where there is opportunity, there is mismanagement and corruption!
