Condominiums and HOA Rules
Objectives
- Understand condominium regimes
- Read bylaws and fees
- Advise on common areas
Explanation
Costa Rica's Condominium Law (Ley Reguladora de la Propiedad en Condominio) regulates units (fincas filiales), common areas and the owners' assembly. Bylaws (reglamento) set rules on use, rentals and fees. Before buying, request the bylaws, the certificate of fees paid (no debts), and minutes of recent assemblies.
unit
An individually owned part of a condominium (finca filial).
“Each unit has its own registry number.”
common areas
Areas shared by all owners.
“The pool is a common area.”
bylaws
Rules governing the condominium (reglamento).
“The bylaws prohibit short-term rentals.”
HOA fees
Periodic payments for maintenance (cuotas de mantenimiento).
“HOA fees are US$350 a month.”
special assessment
An extraordinary fee for major works.
“A special assessment was approved for the roof.”
Flashcards
Match terms and definitions
unit
common areas
bylaws
HOA fees
special assessment
Complete the sentences
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