All Community Association have different rules and regulations depending the State and Community. The questions below are directed toward Associations in New Jersey.
Disclaimer: The following questions and answers below are to be used as a general guideline. Before purchasing a condo, please verify for yourself via your attorney if you have any direct questions.
What is the "Capital Reserve Fund" typically used for ?
What is a "Condo Questionnaire" typically used for?
If pets were allowed in a community where would that be found?
If the Association decided to add a pool, what must be changed?
Typically in most Associations what is NOT covered with maintenance fees?
What would a "Special Assessment" typically be used for?
To gauge the financial health of an association over 10 years old how much money should be in the "reserve fund" ?
When buying a condo how much is typically asked of the buyer as an "application" fee?
What is an example of a "limited common element" ?
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Atlantic /Bergen /Burlington / Cape May / Cumberland /Essex /
Hudson/Hunterdon /Gloucester /Mercer / Middlesex /
Monmouth/Morris /Ocean / Passaic / Somerset / Sussex / Union / Warren
North Jersey / Central Jersey / South Jersey