Condominium Bylaws Condo For Sale In Houston
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A residence homestead exemption removes part of your home's value from taxation, which ultimately results in lower property taxes. The property must be your principal residence and you cannot claim a homestead exemption on any other property.
As one of the top cities in Texas, Houston is a great place to call home. Families, young professionals, and retirees are all drawn to this Texas city for its urban lifestyle and top employment opportunities—but just like any city, there are always drawbacks to consider.
The condo complex may be owned by a single person, a company, or a group of investors. However, the shared areas are typically managed by the development's homeowners association, known as HOAs, which generally consists of condo owners from within the complex.
The Texas Uniform inium Act contains a provision which states that unless a declaration provides otherwise, a inium building may be terminated and sold if 100% of the owners agree. It also allows unit owners associations to adopt a rule allowing for a lower threshold of 80% of the votes.
Effective January 1, 2024. A property owners' association must adopt an enforcement policy regarding levying of fines. The policy must be made available to the property owners.
Notably, Texas HOA's with 60 or more lots are legally required to have an HOA Website, ensuring transparency and accessibility for all members. The HOA Website Law in Texas is designed to facilitate better communication and provide a centralized location for important association information.
Disclosure Requirements Disclosure is mandated by law, often through public records and real property records. Before purchasing a home, buyers must receive a set of documents detailing the HOA's health, such as its covenants, conditions, restrictions, bylaws, rules, and financial statements.
In 2021, the Texas Senate passed Bill 1588, which placed restrictions on HOA authority over fencing. This legislation ensures that if you own a property, your HOA cannot categorically deny you the right to a fence installation.
Other rules apply to the use of the facilities and the adherence to certain architectural guidelines. Anyone who doesn't comply with these laws may be subject to fines, but the HOA can't evict them. These fines, along with unpaid HOA fees, can lead to the removal of non-compliant homeowners from a community.
House Bill 614 guarantees your right to a hearing before the HOA board to contest the violation or the proposed fine. This ensures a fair and transparent process where you can voice your concerns and advocate for your interests.
