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Homeowners Association

Adobe PDF Click here to download The Houndstooth Condiminiums HOA Estimated Budget.

Welcome to your Home Owners Association (HOA).  Once you close on your condominium, you become a member of the HOA which will be managed by Cornerstone Management.  The management company is responsible for the administration and management of the condominium property.  The HOA management team will not be responsible for maintenance and repairs to the individual unit.  As with any home, the owner is responsible for repairs and maintenance to the interior of the unit.

HOA dues are the pro-rated fees that you will pay monthly.  The fees are derived from the overall operating budget and pro-rated to each unit.  The budget is for the operation of the condominium property and is provided as a PDF file for you to download and review.  The HOA dues include insurance on the buildings, water service, sewer service, trash service, pest control, termite warranty, fire alarm monitoring, landscape maintenance, common area maintenance, custodial service for the common areas, common area utilities, on-site manager, on-site maintenance director, and the reserves of the association. 

Houndstooth Condos Purchasing Information
The reserve of the association is the amount of money set aside each month for the long-term maintenance needs of the property.  By setting aside the money in advance, the HOA should have sufficient funds in the future when the useful life of materials such as the roof need replacement.

The budget will also be included in the Condominium Documents when you sign the Purchase and Sales Contract.  The Condominium Documents will include the Condominium Information and Offering Statement which includes the budget and assessments, Declaration, Articles of Incorporation, By-Laws and Rules and Regulations.  The common elements (common areas) include part or parts of the condominium property as set forth in the declaration in which all the unit owners have an interest.  These include, but not limited to, landscaping, hallways, parking and the grounds area. 

Sales and ownership of condominiums in Alabama are currently generally subject to the provisions of Code of Alabama (1975), as amended, Sections 35-8A-101 – 35-8A-417 (sometimes referred to as the Alabama Uniform Condominium Act of 1991, as amended) and the developer intends to comply with all applicable provisions thereof.  Please note that the information contained on this site is intended to only provide very limited and preliminary information concerning the development, the units comprising the development and the common area located therein.  Much more detailed information will be contained in the Purchase and Sale Agreement and Condominium Documents, all of which you and/or your legal counsel should review very carefully.

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