3 Things You Didn't Know About Your POA
Owners' associations are residential communities comprised of condominiums or individual homes. When you buy a condo or home that is part of an association, you will automatically become part of the association and, therefore, will be required to pay assessments and abide by specific rules and restrictions. Being a part of an association comes with distinct benefits, such as access to community amenities like pools, playgrounds, fitness centers, etc. Unfortunately, associations sometimes have a bad reputation for restricting homeowners' freedoms. Since our Lake of the Ozarks law firm represents homeowners associations and condominium associations, we wanted to take this opportunity to shed some light on some of the lesser-understood aspect of owners' associations. 1. Managing An Association Is A Huge Responsibility While some associations are relatively small and consist of only a handful of property owners, some associations are quite large. Large associations ...