Financial Literacy Month:  HOA Rules & Regulations – What You Need to Know

When you’re buying a condo, understanding the HOA (Homeowners Association) rules and regulations is essential.

These guidelines protect property values, maintain community standards, and keep residents safe. However, not all HOA rules are created equal, and some can feel restrictive. Here’s what you need to know:

Key HOA Documents to Review:

Before you commit to purchasing, be sure to review these key HOA documents:

1. Covenants, Conditions, and Restrictions (CC&Rs)
   Think of this as the “community constitution.” It includes guidelines for property maintenance, architectural changes, and shared areas.
2. Rules and Regulations
   These govern daily life—like landscaping, parking, and noise levels. These are more flexible than CC&Rs but still enforceable.
3. Bylaws & Articles of Incorporation
   These provide operational guidance on how the HOA functions, including board responsibilities and voting protocols.
4. Plat
   This is a map showing the layout of the community, including unit locations, roads, and common areas.

Important Questions to Ask the HOA

1. How much are the fees, and what do they cover?
2. What are the rules on renting out my unit?
3. Are there any major upcoming repairs that could result in special assessments?

We’re Here to Help

Navigating the world of condo financing and HOA rules doesn’t have to be overwhelming. As your local experts, we’re here to answer your questions and ensure you make an informed decision.

Reach out to your STM loan officer today to get started!