What Is Condominium Association of condo insurance california?
The Condo Association is run by a board of directors, that are are elected by the condo unit owners. The association’s primary responsibility is to maintain and repair the common areas. In addition, this association is also in charge of handling the association’s master insurance. They also set the regulations and laws, all owners must follow, and they are also in charge of collecting sufficient money to maintain the common areas. However, some condominium associations hire a management company, to do all the work, and carry out the day to day operation task. The Management Company will act on behalf of the association and will carry the obligation of handling master insurance.