A homeowners association is a not-for-profit group comprised of the owners of shared properties, the association determines the rules of what can and cannot occur in the units as well as collecting fees which are used for maintenance of all the shared areas. When you purchase as West Chelsea luxury condo you become a member of a homeowners association.
When you own property in a building or area which is governed by the HOA, you are part of the governing group. There are sometimes companies or individuals that own and rent several units, they will have the greatest influence of the way the association is run. Every owner of every condo unit is responsible for the fees that are set by the association; a West Chelsea luxury condo will set its fees such that the amenities which are considered common are kept in an impeccable condition. When considering ownership of a condo, the management fees should be considered.
When a HOA is first set up one of the first tasks is to develop the covenants, rules and conditions. These establish the monthly dues and place whatever restrictions on how an owner can use his property. As an example, the rules of a homeowners association may set limits on the times of day that the pool and exercise areas can be used so as not to cause a disturbance for the residents.
The regulations and rules that are adopted by the HOA are set so that being a resident is pleasant for everyone. It usually helps to speak to current residents before buying a condo unit, find out for sure whether the homeowners association is more bark than bite or whether they run the building as a totalitarian state and exercise too much control on the residents.
A well managed community will have addressed the issues fairly and created rules and regulations which are doable and everything should be done. The maintenance of the building common areas must be done and done well, if there are unusually raucous owners, they must be told to abide by the rules. A successful organization will see to that that disputes are settled and that repair and maintenance is well organized and efficient. A well administered West Chelsea luxury condo can be an extremely comfortable home.
