What is an HOA?

An HOA is Home Owners Association. or otherwise known as a condo association?

The condo association is the governing body of the condo project. The members of the association are the condo unit owners. The members elect a Board of Directors to oversee the management and operations of the condo, hold an annual meeting to elect officers, vote on proposed changes to the By-Laws and any other significant issues.

What is a 'Master Association'?

When more than one condo association shares certain amenities (pool, tennis courts, clubhouse, etc.), the amenities may be owned and managed by a separate master or "umbrella" association. Each condo association or units owner pays a pro-rata share of the operating costs of the master association. This cover things like maintenance, utilities, real estate taxes, staff, etc.


What does the Board of Directors actually do?

The Board of Directors sets policies, adopts rules, establishes the annual operating budget and the condo fees, hires and supervises the property manager, approves service contracts, resolves problems, appoints committees, reviews topical issues, and numerous other tasks.

The Board forms committees to assist in the operation of the building. Committees commonly include: budget and finance, building systems, capital improvements, security, grounds and landscaping, communications, social, decorating, etc.

Committees provide owners with an excellent opportunity to get involved in their community and help make it a better place to live.

So...If you are in the market to buy a Condo... Make sure you know the agenda of the Condo association as well as the finances.

For access to every condo or loft  for sale in the downtown Omaha area go to http://www.condolivingomaha.com/ We'll be glad to help you with any of your buying or selling needs. Just send an emailto:CondoLivingOmaha@gmail.com.