A condominium association is an association of unit owners in a condominium building. The association elects a board of directors, which handles the maintenance and repair of common areas, disputes among unit owners, and enforcement of rules and regulations, and condominium fees. The rules and regulations are normally adopted by the board of directors of the association.
Nevada Rules and Regulations of an Association of Owners of a Condominium Association
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FAQ
Can HOA restrict parking on public streets in Nevada? In short, no, a homeowners' association cannot restrict parking on public streets because they do not have authority over a street that is not owned or maintained by them and it would be against the law for them to do so.
In Nevada, an HOA can impose fines on a homeowner for maintenance of common areas, late payments of assessments, and violations of its rules. The amount of the fine must match the severity of the violation. However, HOAs cannot impose a fine of more than $100 for each violation or exceed a total amount of $1,000.
The New Nevada HOA law requires each homeowners' association (HOA) with 150 or more units to establish and maintain a secure website or electronic portal for residents, as well as provide an electronic payment option for assessments.
If an HOA fails to make repairs or does not make them in a timely manner, homeowners may take legal action.
Honolulu, Hawaii, claims the top spot among cities with higher HOA fees. Residents within the picturesque city limits typically pay HOA fees that average around $730.75, over $400 more than the national average of $293.26.
Also, Chapter 116 of the state code is the Common Interest Ownership Act that provides more specific regulations regarding HOAs. Community associations are regulated by the Real Estate Division of the Department of Business and Industry; otherwise known as the Division in legal documents.
In Nevada, there is currently no limitation on how much a homeowners association can raise HOA fees annually, quarterly, or monthly. That said, you should check your HOA's governing documents to see if any such limitations exist within your bylaws and CC&Rs.
Also, Chapter 116 of the state code is the Common Interest Ownership Act that provides more specific regulations regarding HOAs. Community associations are regulated by the Real Estate Division of the Department of Business and Industry; otherwise known as the Division in legal documents.