HOMEOWNERS ASSOCIATION

HOA "Apples for Apples"

When purchasing a Condominium Unit or home in a Fraciamento beware of what is included in the monthly dues. Once you have purchased it is too late to say "I did not realize or understand that was not included!"

Home Owner Associations in Mexico are basically the same as in the US and Canada with Bylaws and Rules and Regulations. Each Association will have its own unique set of Bylaws and Rules and Regulations. The same as in Canada and the US. Condominium Association meetings are held with notification to the owners and a General Annual Meeting will be held each year with the election of officers on the yearly basis that is allowed within the Bylaws. Not all Bylaws call for the re election of officers on a yearly basis.

When purchasing a property with a Home Owner Association write a subject into your purchase contract that the Rules and Regulations and Bylaws must be given to you by a certain date. Allow yourself time to receive the documents, that will be in Spanish, as well as time for you to have them translated, before you have to remove all your subjects.

When purchasing a property in Mexico it is important to understand what your monthly Homeowner Association Fees will cover. Each Association and Condominium Complex will vary greatly and it is EXTREMELY IMPORTANT TO COMPARE "APPLES FOR APPLES". It is also important to look at the facilities that each Condominium Complex offers and figure that into the equation as well. For instance do they have a pool, exercise room and equipment or an onsite restaurant? Is propane and water or internet access included? Is garbage removal included and how often? MAKE SURE THE HOME OWNER ASSOCIATION CARRIES INSURANCE (PREFERRABLY WITH EARTHQUAKE PROTECTION) ON THE BUILDINGS. In Mexico many of the HOA do not carry insurance.

Ask to see the last 1 or 2 years of paid monthly assessments for the development. Do most of the owners pay and on time or are there a majority that do not pay and the running of the complex is paid for by the minority of people that do pay? Does the HOA have a contingency fund? Many of the Mexican Associations do NOT have a contingency fund.

Some Condo Associations charge a daily user fee, even to the owners, when they are occupying their units. Maid service will vary greatly - with some Associations having daily maid service and others having weekly or bi weekly maid service. Some Associations include ALL upkeep with yearly painting, pool repairs, deck or bathroom refurbishing etc. being included while others will have special assessments to cover these items. There are associations that will have special assessments for the purchase of new deck chairs and tables for poolside or restaurant equipment if their condo has a restaurant. Some associations charge on a monthly basis others on a trimester basis, the odd one will charge on a yearly basis. Tipping of the staff is expected at some Condominium Complexes for them to help you take your luggage or groceries to your suite or to change light bulbs or do minor repairs to your unit. Some associations will charge a special assessment for yearly replanting of flowering plants.

Sometimes the amount of the dues will seem like a very good deal until you find your complex getting run down or services not being performed because they do not have enough money to keep things in good repair. At other times dues will appear to be steep until you do an honest comparison and realize that they are offering excellent value for your money.

REMEMBER TO COMPARE "APPLES FOR APPLES" WHEN PURCHASING and COMPARING MONTHLY AND YEARLY HOMEOWNERS DUES

Read more about the La Iguana HOA.

   MEXICO 387-761-0832         CANADA 604-628-2491         USA 818-429-4120