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Parking regulations are yet another issue to be aware of.
"There are just a variety of things in their everyday life that the association may have control over." Smith says.
Association members can vote for or against directors, but in New Jersey they generally cannot act to approve or reject their association's annual budget. That doesn't mean that the board doesn't have to answer for its actions, says Smith.
"They're responsible for the operation, management and administration of the association.
People looking to buy into an association do have the right—and the responsibility—to examine the association's financial picture in order to make an informed decision about whether to make their home there.
"It's basically a progressive transition," says Smith.According to Smith, it's the bylaws and association rules that have the most direct impact on the day-to-day lives of association members."The bylaws are the governance of the association: voting rights, obligations, how expenses are determined. Those are the governing documents detail what the association directly controls." "Every set of governing documents has covenants and restrictions in it," Smith adds.It means, Smith says, "That they're going to have to subordinate some of their individual rights to the common good of the community." He says the owners of a single-family home have the freedom to do whatever they want with their property whenever they want, but in a condo, "They don't have that freedom because the association is responsible for the maintenance and operation of the property—and the association is the one that makes those decisions." For instance, Smith says, pet lovers ought to check into pet restrictions before they let themselves fall in love with a building or neighborhood.If a person wants to buy two adjacent units and merge them into one larger unit, they should know they need the association's approval.