Question: What is the difference between HOAs and Condos?
Answer: HOAs (Homeowners Associations) are homes and condos are apartment-like. Both are restricted by different state laws and always by their own Governing Documents.
In Florida, Homeowners Associations are also subject to Chapter 720, Florida Statutes. Condominiums are also subject to Chapter 718, Florida Statutes.
Some of the big differences between a HOA and a Condo include the following:
Condo owners are solely responsible for what is inside their condominium. HOAs are typically more similar to houses in that the owner is responsible for the outside upkeep of the home.
Either way, if you are considering purchasing into a condo or HOA community, you must read what rules you legally have to abide by. Membership is a must and you don’t want to find out restrictions after the fact to be frustrated with your real estate purchase.