Take the Test !!!

At a minimum, you should be able to answer the following questions before you buy a home in a community association.

• How much are the assessments, and when are payments due?
• What do the assessments cover?
• What is not covered and, thus, what are your individual responsibilities as a homeowner?
• What procedures are in place to collect delinquent assessments?
• How often can assessments increase and by how much?
• What is the annual Budget and how does it compare to similar communities?
• Does the community have a viable reserve to fund major, long-term maintenance and repairs?
• Have special assessments been levied by the association on homeowners?  If so, for how much and for what purpose?
• Are there restrictions on renting property?
• Do the architectural guidelines suit your preferences?
• Is the community age-restricted?  If so, what is the policy on underage residents?
• Are there simmering issues between homeowners and the elected board?
• What are the rules with respect to pets, flags, outside antennas, satellite dishes, clotheslines, fences, patios, parking and home businesses?
• Are board meetings open to all residents?