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Do you want to own a second home in Tahoe? You may be thinking of a condominium or townhouse with shared common areas. Instead of individual owners worrying about snow removal, landscape and walkway maintenance, the condominium homeowner’s association steps in to lift some of that burden. A nice arrangement if you’re an out-of-town owner.
All HOAs, even those that are professionally managed, have boards that are made up of homeowners in the complex. The board members will schedule regular meetings so that owners can discuss major decisions and issues within their community. Additionally, all members usually vote on major expenditures. Along with maintaining the common areas, and collect the monthly dues, HOAs assure that members follow rules set out in the CC&Rs.
Each condominium owner has a copy of the CC&Rs for their community. Copies of the Covenants, Conditions, and Restrictions are usually given to buyers for their approval before escrow closes, and it is important that buyers read and understand all the CC&Rs for their community. Yes, most of the rules for most complexes are typical, however, a few CC&Rs go beyond the norm. If you enjoy a jungle-like entrance to your home and the CC&Rs prohibit certain plantings in front of your door, living in that condominium complex may not be for you. Likewise, if you own a matched set of St. Bernard dogs and the CC&Rs clearly state that all dogs in the complex must be less than 50 pounds, then you’d probably be better off somewhere else. Read and understand those CC&Rs.
A well-run HOA with reasonable CC&Rs will protect your investment and shoulder some of the routine home maintenance, giving you peace of mind and the time to come to Tahoe for play!
