Reviewing an HOA, condo association or co-op
Governing documents, dues, reserves, special assessments and the board's powers.
Applies to: United States. Reviewed 2026-09-25.
Key takeaways
- HOA dues come on top of mortgage, tax and insurance.
- Weak reserves often lead to special assessments when major repairs are needed.
- The association can often place a lien on the home if dues go unpaid.
Documents to read
- CC&Rs, bylaws and rules, including on letting, pets and alterations.
- Budget, accounts and reserve study.
- Minutes of recent board meetings.
- Building insurance and what the dues include.
Questions to ask
- Is there a current reserve study, and what share of the need is funded?
- Is there litigation or are special assessments planned?
Red flags
- A low reserve level in an older building.
- Many owners are behind on dues.
Sources
- Buying a House: tools and resources for homebuyers (Consumer Financial Protection Bureau)