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

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

Boston, MA -

Attorney Answers (1)

John Thomas Gosselin

John Thomas Gosselin

Real Estate Attorney - Winchester, MA
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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