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What Is A Condominium Assocation

Ryan FitzgeraldRyan Fitzgerald
Mar 20, 2023 • 9 min read
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What Is A Condominium Assocation
Chapters
01
What Is A Condominium?
02
What Is A Condominium Association? 
03
What Is A Condominium Association Fee? 
04
How Much Is A Condominium Association Fee? 
05
Condominium Association Vs. HOA 

What Is A Condominium Association 

What is a condominium association? Follow along as we discuss the use of an association, the responsibilities, and more! 

If you're moving into a condominium, you may be wondering who maintains the common areas and who decides what you can and can't do with your property. This is where a condominium association comes in. The association's primary purpose is to maintain the value of the units and shared common areas. 

Let's discuss everything from what condo associations are used for to the fees and responsibilities. Let's get started! 

high rise condo in blue sky with balconies

1. What Is A Condominium?

A condominium, or a condo, is a housing or residential complex in which there are separate units, with each unit being owned by an individual. Depending on the complex, you can purchase or rent a condo.

When renting, it's important to note you are renting directly from the owner. Condos offer many pros and cons and can be perfect for first-time home buyers, investors, renting in a new city, etc. Even though there is a condominium association fee, condos are typically less expensive than traditional single-family homes.

2. What Is A Condominium Association? 

A condominium association governs developments and aims to maintain each unit's value and shared features. Typically, the property developer funds each condominium association and establishes the rules and regulations of the community, then allows property owners to take over by electing a board of directors to enforce the rules and regulations. 

Condominium associations are mainly responsible for maintaining the common areas and elements of the condo development. The association is a legal organization that is made up of homeowners who are chosen by everyone who lives in the building. The homeowners elected then make up the board of directors. Upon purchasing a condominium unit, you are automatically required to pay dues and abide by the rules of the condominium association and the CC&Rs set forth. Your dues pay for communal facilities, utilities, amenities, maintenance costs, and more. Your dues may also pay for limited common elements such as semi-private balconies, patios only accessible to a few units, a shared roof terrace, etc.

The board of directors of a condominium association is responsible for overseeing the day-to-day duties of the association and enforcing the community's CC&Rs. The association is also responsible for managing the association's finances, hiring vendors to clean, repair, & maintain common areas, and collecting dues or leveraging special assessments. Being a part of the board of directors does not warrant compensation and can take up a lot of your free time. If the members don't have time to oversee and maintain the community properly, hiring a property management company is common. A property management company is a third party that is employed to take on daily operations like collecting dues, negotiating contracts, coordinating maintenance and vendors, and more. 

group of volunteers at a meeting

Covenants, Conditions, and Restrictions 

One of the main priorities of the condominium association is to enforce the CC&Rs rules and regulations and sometimes impose fines for any violations. When you purchase your dream condo, you are responsible for abiding by the association's declarations, rules, bylaws, and amendments. Before purchasing, you will be able to review the CC&Rs, which outline how you can use the building or complex and sometimes your individual unit. The set covenants, conditions, and restrictions can set regulations on:

Pets 

If you have a furry friend, it's essential to ensure the complex allows pets. Some condo associations either don't allow pets in general or have restrictions on breed, size, and number of pets allowed in your unit. Within an association, you are typically allowed to have a dog or cat that must be leashed in common areas and up to date on their vaccinations. There is usually a non-refundable pet deposit and a monthly pet fee if you choose to have a pet in your unit. 

Noise 

One of the cons of a condominium is shared walls and spaces. The condominium association will most likely have rules restricting our or excessive noises in the common areas and even your individual unit. 

Your unit 

Although you own your unit, you may need the condominium association's permission before you remodel or make significant changes to your unit. This is not set in place to limit your creativity but to ensure you are not damaging the structure or knocking down load-bearing walls. 

3. What Is A Condominium Association Fee? 

A condominium fee is the amount condo owners are assessed monthly for the upkeep of common property amenities, maintenance, and day-to-day management of the complex. When a condominium association is formed, there's a set of rules and guidelines called CC&Rs (covenants, conditions, and restrictions). To recap, the CC&Rs of a community dedicate what you can and cannot do on your property and can be imposed by builders, developers, or neighborhood associations. In the case of condos, it's typically set by the board of directors. The board of directors is allowed to impose any restriction as long as every member agrees on the rules and it doesn't violate any laws. After the formation of the condominium association and appointment of the board of directors, an association fee can be set. The BOD sets the fee every year and determines what it will be used for. You are required to pay the fee on time (usually every month) even if you disagree with the rules set in place. 

What Is My Fee Used For?

Your condominium fee can be used for various things in a condo association - things you didn't even know were needed. The main reason you pay dues is to maintain the community's common elements. If something breaks or needs an improvement or repair, your dues will be used since the common elements are accessible to every unit owner. Common elements include sidewalks, elevators, roofs, lobbies, hallways, pools, lounges, and more. Let's discuss a few of the different ways your dues can be used to improve the community. 

Insurance 

Condo associations need to have an insurance policy in place and paid on time. The common areas can be fun and beneficial, but accidents are bound to happen. Your fee may be used to pay for this insurance policy in case an accident occurs that imposes a hefty fine or the injured person sues. The condo association insurance policy only covers areas outside your unit; you are responsible for acquiring your own homeowner's insurance policy to cover maintenance and repairs of your condo interior. 

insurance certificate

Maintenance and Repair Cost 

When something in the common area or any part of the community breaks, it will need to be fixed. Your fee may be used for any necessary repair, improvement, or replacement. 

Utilities 

The lobby, pool, elevators, and more are excellent features of your complex, but they cost money to keep running. Your fees may be used to keep the lights on in common areas, the pool heated, and the elevators running. Essentially, using common areas comes with a utility bill, which is split between every condo owner. You won't receive an actual bill, but part of every owner's monthly fee will go towards it. 

Lawn Care 

Walking through a well-maintained community is better than one with weeds and dead grass. Any area of the community that requires landscaping is taken care of by using the condo fee every unit owner pays.

Pest control 

Nobody can relax in a home or common area filled with pests. Your fee may be used to hire pest control to come out monthly or annually. 

Amenities 

The amenities you enjoy come with a price tag. From the pool and fitness center to the doorman you say good morning to, the condominium fee pays for any common element or service that comes with the property. 

City Services 

Services like trash removal, water, and sewer can often be included in the condominium fee. 

Reserve Funds 

A reserve fund is essential in every well-managed condo association. A reserve fund consists of money that is put away for emergencies. In the event a costly emergency occurs, the association will be able to dip into the reserve fund to take care of it. 

Staff 

The condominium fee pays for any staff that is hired to take care of the property. Staff can include landscapes, maintenance men, security, and more. 

Property Management Company 

As said earlier, if the board of directors doesn't have the time to manage the community properly, they can hire a property management company to handle the day-to-day responsibilities. A property management company is hired to properly and effectively leverage its expertise to manage operations, perform ongoing maintenance duties, and communicate with residents. Some tasks of a property management company include: 

  1. Billing residents 
  2. Collecting Dues 
  3. Administrative office duties 
  4. Board education 
  5. Managing vendors
  6. Accounting  
A Special Assessment

A special assessment is a one-time fee that may be charged under certain conditions, such as natural disasters or a new community project or improvement. Special assessments are a sudden extra expense, but the CC&Rs require you to pay them on time. Typically, your association will use the reserve funds to pay for unexpected expenses. However, a special assessment will be levied if there are insufficient funds to cover the cost. 

4. How Much Is A Condominium Association Fee? 

How much you will pay in dues is not the same for every association. Various factors contribute to the total cost you are required to pay, including the size of your condominium complex, the number of amenities offered and how extensive they are, how much the insurance policy is, how much of the community must be landscaped, and more.

When purchasing a condo, it's essential to ensure you can afford the fee before closing on your new home. Some lenders, but not all, will subtract the condo association fee from the total monthly amount a buyer is approved for to ensure they have the appropriate finances to afford the mortgage payment and condo fees. Some condo association fees can be less than $100 monthly, and some can be close to or over $1,000. It all depends on your area, the size of your complex, etc., so be sure to review the monthly fees beforehand. 

paying HOA fee

5. Condominium Association Vs. HOA 

A condominium association and a homeowner's association have numerous similarities. They are both put in place for the sole purpose of maintaining the community and enforcing the rules and regulations. The main difference between the two doesn't come from the responsibilities but from the ownership. 

In a condominium association, each condo owner is the sole owner of their individual unit and has joint ownership of the common areas. Common areas include lobbies, parking lots and garages, pools, gyms, sports courts, dog parks, etc. 

Within a homeowners association, each homeowner has their individual property and the real estate on which the home resides. Unlike a condominium, the common areas in an HOA are typically owned by the homeowner's association which can exist as an independent entity or may be owned by a developer or management company. 

What Is A Condominium Association - Final Thoughts 

When considering buying a condominium, it's vital that you are first familiar with the condominium association, CC&Rs, and the fee associated with the association. As an owner, you are only responsible for maintaining the interior of your condo unit, meaning all the amenities you love to use are not your responsibility to maintain. The fee can be costly, but you gain access to common areas, including lounges, lobbies, parks, pools, etc., along with fully functioning elevators, utilities, and landscaped grounds. More times than not, the pros of a condominium association outweigh the cons. 

Condos can be the perfect home for someone looking to own while still having access to amenities. There are plenty of available condos in Raleigh and the surrounding areas, from new construction to move-in ready. If you find one you're interested in, don't hesitate to contact us. We'd be more than happy to help you close on your dream home

WRITTEN BY
Ryan Fitzgerald
Ryan Fitzgerald
Realtor

Ryan Fitzgerald is a top Realtor®, founder and owner of Raleigh Realty, one of the Triangle’s fastest-growing and most innovative real estate brokerages. Driven by a mission to be the best—not the biggest—brokerage in Raleigh, Ryan has built Raleigh Realty into a firm known for its cutting-edge marketing, high-performing agents, and culture rooted in collaboration, growth, and excellence.

Raleigh Realty

Under Ryan’s leadership, Raleigh Realty has become a top boutique brokerage in Raleigh-Durham, serving clients across Wake County and the surrounding areas. Raleigh Realty stands apart for its:

  • Top-Tier Agents – Every Realtor on the team is hand-selected for their skill, professionalism, and client-first approach. Raleigh Realty isn’t about quantity—it’s about quality.

  • Award-Winning Website – RaleighRealty.com is consistently ranked among the best real estate websites with incredible user experience, cutting-edge IDX technology, and hyper-local guides that help buyers and sellers navigate the market.

  • Inbound Lead Generation – With a strong focus on SEO and digital marketing, the brokerage generates a steady flow of organic leads, giving agents the opportunity to grow thriving businesses.

  • Supportive Culture – Ryan emphasizes mentorship, accountability, and autonomy—no micromanaging, just the right systems and tools for agents to succeed.

  • Community Focus – From neighborhood spotlights to relocation guides, Raleigh Realty is committed to being a resource for both buyers and sellers as they make one of life’s biggest decisions.

The firm continues to expand its reach, with the goal of 100 agents and $1 billion in annual sales volume by 2030—all while staying true to its boutique, client-centered values.

Awards & Recognition

Ryan already has notable public credentials and prestige:

  • He has been featured in outlets such as Forbes, Wall Street Journal, U.S. News, among others (as mentioned on the site).

  • Realtor Magazine named him a “Top 30 Under 30” in the country (as noted on his Raleigh Realty page).

  • Raleigh Realty is widely acknowledged in the local real estate community for its digital prowess and thought leadership.

  • The company is consistently ranked among the top real estate firms in Raleigh and is known for having one of the highest-traffic real estate websites in the region.

Community Involvement & Giving Back

Ryan’s leadership extends far beyond the closing table. He has built Raleigh Realty to be a company that actively gives back to the community and invests in making Raleigh a better place to live.

  • The Green Chair Project – Ryan and Raleigh Realty proudly support The Green Chair Project, a local nonprofit that provides essential furnishings and household items to families transitioning out of homelessness, crisis, or disaster. By partnering with this organization, Ryan helps ensure families have the comfort and dignity of a furnished home.

  • Food Donations & Drives – Raleigh Realty regularly organizes and contributes to food donation efforts, partnering with local pantries and organizations to help fight food insecurity across Wake County. These efforts bring agents, clients, and neighbors together to support those in need.

  • Local Events & Client Appreciation – Raleigh Realty hosts family-friendly gatherings such as pumpkin patch outings, coffee + donut socials, and seasonal celebrations designed to strengthen neighborhood bonds.

  • Supporting Schools & Youth Programs – Ryan partners with local schools and youth organizations to provide resources, sponsorships, and mentorship opportunities, ensuring that the next generation has access to growth and guidance.

  • Small Business Advocacy – Raleigh Realty proudly highlights and partners with local small businesses, amplifying their visibility and reinforcing Raleigh’s reputation as a vibrant place to live and work.

For Ryan, success is measured not just in sales, but in the lasting relationships and community impact Raleigh Realty leaves behind.

AgentLoft – Powering the Next Generation of Realtors

Ryan is also the visionary behind AgentLoft, a SaaS platform designed to help Realtors nationwide build their brand and generate leads. AgentLoft websites combine IDX technology, SEO expertise, and AI integration to give agents the competitive edge they need.

Personal Mission

As a proud father to his daughter Emma, Ryan’s mission is bigger than business. He’s dedicated to building a brokerage and a platform that create opportunity and stability for families, clients, and agents alike. His approach blends entrepreneurship with empathy—ensuring that Raleigh Realty continues to grow not just in sales volume, but in reputation, trust, and impact.


👉 Whether you’re buying or selling a home, or you’re a Realtor looking for the right brokerage to grow your business, Raleigh Realty—under Ryan Fitzgerald’s leadership—offers the expertise, technology, and community-minded culture to help you succeed.

Chapters
01
What Is A Condominium?
02
What Is A Condominium Association? 
03
What Is A Condominium Association Fee? 
04
How Much Is A Condominium Association Fee? 
05
Condominium Association Vs. HOA 
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