Basically, a condo is the interior space of a building unit that may also include a porch, while a townhouse includes exterior surfaces and the land the dwelling is built on.
The HOA or condo association is made up of all individuals who own units within a specific complex. An elected, executive board comprised of owners hold regular meetings to approve annual budgets for the care and use of the common elements of the association...
A monthly fee covers items such as insurance, landscaping, snow removal, water and sewer fees, taxes and utilities, and upkeep of common areas such as pools, fitness centers, etc.
Occasionally, individuals in such lifestyle situations may also be required to contribute to a special assessment... This additional fee, usually payable over a set period of time, will generate the money needed to cover the expense.
#boston-seaport #condo-associations #homeowners-association #special-assessments #property-maintenance
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