Condo vs. HOA in Florida: What Is the Difference?
Both come with an association and monthly dues, but what you own, what you insure, and what you risk are quite different.
| Condominium | HOA community | |
|---|---|---|
| What you own | Your unit, plus a share of common elements | Your home and lot; the association owns common areas |
| Main Florida law | Chapter 718 | Chapter 720 |
| Dues typically cover | Building exterior, roof, structure, master insurance, amenities | Common areas, landscaping, amenities, gates |
| Your insurance | Condo unit policy (interior, belongings, liability) | Full homeowners policy for the house |
| Reserves | Strict statutory reserve and inspection rules | Mostly depend on governing documents |
Insurance differences
In a condo, the association's master policy covers the building, and you cover what is inside your unit and your liability. In an HOA community you insure the whole house yourself, including the roof, so the costs in the insurance cost guide fall on you.
Structural inspections and reserves
After the 2021 Surfside collapse, Florida added milestone inspection and structural reserve study requirements for many condominium buildings, generally those three stories or taller. These rules can raise dues or lead to large special assessments, so ask what has been done and what is planned.
Special assessments
Both types can levy special assessments, but condos with aging buildings often face the largest ones. Review recent minutes, budgets, and reserve studies before you buy. See HOA fees explained.
Rules and rentals
Both can limit rentals, pets, vehicles, and changes to your property. Condos often have stricter rental rules and minimum lease periods. Read the declaration and rules first.
Financing
Lenders may review a condo project's finances and owner-occupancy rates, and some will not lend if the building has problems. This can affect both your purchase and your resale later.
Questions to ask before buying either
- What do dues cover, and what do I insure myself?
- Are there pending or planned special assessments?
- How healthy are reserves, and are required inspections complete?
- What are the rental and pet rules?
- Are there lawsuits or major repairs?