I've filled out HOA documents for new buyers. We have 3 commercially zoned units. Are we not a HOA?

Asked almost 5 years ago - Boston, MA

The commercially zoned condo income does not go to the condo. Rather, to the owner of the business. the only income is from the condo dues

Attorney answers (1)

  1. John Thomas Gosselin

    Contributor Level 10

    Answered . You would simply be a "condominium trust", the trustees administer the condominium directly. You would normally be required to submit a simple tax form each year showing income and expense, a CPA can handle that for you at very little cost. If you have any residential units the documents would necessarily need to be much more complicated.

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