Review of HOA’s (Home Owner’s Association)
How should the condominium handle owners who do not pay their monthly dues?
What hours can an individual unit owner’s construction start and end?
How often should the board meet?
Can dogs be off leash?
Can the neighbor leave their construction trash outside like that and for how long?
What constitutes construction on a weekend? Why can’t my builder install just the toilets just this once on a Saturday at 2pm?
The Condominium Property Law
The Condominium Property Law was written when real estate developments were simpler: often a small conversion of a building with a few residential apartments meant it became a condominium.
Many things have changed since then. Buildings have more than 100 apartments, and a development with several hundred private homes is very common. The market is more demanding, and people’s needs have changed with new generations stepping in, wanting not just a place to live, but also to work, study, play and entertain.
The number of square meters built as condominiums grew almost seven times in the last decade, according to data from the Costa Rican Chamber of Construction.
Increase in a new lifestyle for homeowners
This data shows an increase in a new lifestyle for homeowners. As prices on housing have gone up, the space of a traditional home may only be accessible away from the desired neighborhoods of buyers, or, if staying in the neighborhood they dreamt of, at an enormous price. Buyers are happy to move to smaller spaces, as long as there are many options for amenities, and they don’t have to sacrifice the area where they wish to live.
This means that the “reglamentos” (rules for the condominium, AKA Covenants, Conditions and Restrictions) have become more complicated, having to take much more than basics like the exterior style of home into account.
Home Owner’s Association
To add, you now have not just your neighbors to contend with, but also the Home Owner’s Association, their Board, and the property management company. This is a lot of people to work with, to live next to and sometimes to have miscommunications with.
Draft or review bylaws
The Outlier Legal Real Estate team will draft or review bylaws for those condo owners or developers looking for clarity to these and the myriad of other questions asked when buying or building a condominium. We also attend meetings of the condo board/HOA, when requested, to represent our client’s best interest. Outlier Legal’s Real Estate team is always there for you to help answer all of your questions and provide guidance when necessary. Contact us today.
