Cpu and I used to own a 1/6th undivided interest in a San Francisco tenancy-in-common (TIC). It was our first experience in owning a home. We had a home owners' association which took care of many aspects of managing the building.
In a Condo or TIC arrangement, the group of owners form an HOA to
We put in improvements in our own unit and in the common areas:
In a Condo or TIC arrangement, the group of owners form an HOA to
- Collect money for
- Billing common utilities
- Making improvements and repairs to common areas
- Have a forum for addressing neighborly grievances
- Making simple repairs and improvements
- Doing the finance books, paying common bills, billing and re-imbursing co-owners for expenses.
- Getting quotes from repair men, inspectors, pest control, and other workmen.
We put in improvements in our own unit and in the common areas:
- tile floor in the kitchen/living room.
- hardwood floor in the hall, office nook, and bedroom (self-prep, contracted).
- wood-framed sliding glass doors (contracted).
- A combo exhaust fan and heater in the bathroom (contracted).
- Insulation on the water heaters.
- A basement work sink next to the laundry (contracted).
- Self-closing hinges and keyed-alike-locks on the basement doors.
- Windowed front doors for each unit (contracted).
- Earthquake-proofing the basement (contracted).
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