It’s more like co-owning. Both the owner and the HOA own the property. But at least with my HOA the agreement is they handle everything outside my walls, I handle everything inside.
HOA is just a name, they take many many forms. My grandparents neighborhood for example has an HOA that collects dues and the dues are used to pay to have the roads repaved or fixed when damaged, and that’s it. No upkeep rules or anything like that, and there’s only a handful of houses in their small neighborhood that look bad from the outside, but that’s those people’s business
Forgive my ignorance, but an apartment where the landlord is removed and people just pay building maintenance is… a condominium, no?
If they don’t individually own the property but pay for upkeep and there is no landlord… that’s a housing cooperative, no?
It’s more like co-owning. Both the owner and the HOA own the property. But at least with my HOA the agreement is they handle everything outside my walls, I handle everything inside.
I didn’t know about the co-ownership. That makes HOA stories make more sense.
I would never buy property subject to an HOA.
HOA is just a name, they take many many forms. My grandparents neighborhood for example has an HOA that collects dues and the dues are used to pay to have the roads repaved or fixed when damaged, and that’s it. No upkeep rules or anything like that, and there’s only a handful of houses in their small neighborhood that look bad from the outside, but that’s those people’s business
Squatter mansion.