In La Plata County, subdivisions or planned neighborhoods typically have a homeowner’s (or condominium) association that manages the rules and regulations for that neighborhood or condo complex. Most such projects have a set of CC&R’s (that stands for covenants, conditions & restrictions) that are recorded against all of the property within the project. Additionally, the subdivision often times owns common grounds such as a park, a lake, a playground and in many instances even the roads. The HOA is the legal entity that would actually hold title to those lands. It is run by a board of directors who may elect to do the day to management themselves or they can hire it out to a property management company.
Associations charge dues to cover the expenses of the association. In our area, these expenses typically include: road maintenance (including snowplowing), liability insurance for any common grounds (park, lake, tennis courts, etc), spraying for noxious weeds, cutting the grass on common grounds, annual accounting fees, street lighting, etc. Since the streets in most subdivisions outside the city limits of Durango or Bayfield are not county maintained, that puts the burden of road maintenance directly on the members of the association.
If you fail to pay your dues, the association has the power to file (record) a lien against your property. If you do not follow the rules and regulations of the association, there are usually some sort of enforcement procedures in the CC&R’s to ensure your compliance. Peculiar to condo associations is the fact that the association has an insurance policy on all of the buildings in case of fire, etc. which is one reason condo association dues are more expensive than for a regular homeowner’s association.
As you can see, how associations work here in Durango may be different than what you are used to in your part of the country. This just makes it even more important that you work with a broker with a lot of market knowledge and expertise. Team Lorenz has that knowledge and would be happy to help you. Please visit our website www.BuyDurango.com or give us a call at 970-375-7007.
Copyright 2011 Rick Lorenz
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