Who is responsible for paying for major repairs to a condo complex?

The responsibility for paying for major repairs to a condo complex in Virginia is shared among the condo unit owners and the condo association. The condo association is typically responsible for the repairs to the common areas, such as the lobby, hallways, and swimming pool. This cost is usually covered by the monthly fees paid by the condo owners to the association. On the other hand, condo unit owners are responsible for paying for major repairs to the interior and exterior of their own unit. This can include things like plumbing, electrical work, and structural repairs. The costs of these repairs are usually paid out of pocket by the condo unit owner. However, insurance plans are available to cover these costs, and they should be discussed with the condo association and insurance providers. Overall, the responsibility for major repairs to a condo complex in Virginia is shared between the condo association and the condo unit owners. The condo association is responsible for the repairs to the common areas, and the unit owners are responsible for the repairs to the interior and exterior of their unit. Insurance plans are available to cover the costs associated with the repairs, and these should be discussed with the condo association and insurance providers.

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Who is responsible for paying for major repairs to a condo complex?

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