A family with two dogs was looking for a condo in Anaheim and decided to review the regulations just before signing the contract. They discovered that the complex they were interested in limited pets to one per household, weighing no more than 25 pounds. This case highlights the importance of considering not just the price and location when buying a condo, but also the regulations and fee structures.

The monthly HOA fees for Anaheim condos range widely, from under $100 to over $1,000 (according to Malakai Sparks Group data). For example, the Stadium Lofts complex has fees ranging from $337.50 to $451, and depending on the listing, there may be additional master association fees. In Orange County, where Anaheim is located, the median condo HOA fee is $395 per month. This means there are listings significantly below the median and others that are nearly double, with the difference stemming from the level of amenities and the status of reserve fund contributions.

HOA fees cover maintenance of the building's exterior and common areas, master insurance, management of shared facilities like pools and gyms, landscaping, trash collection, and contributions to the reserve fund. Regulations such as pet restrictions or rental restrictions, as well as renovation limitations, are specified in the CC&Rs, so it is essential to check both the fee amounts and these living regulations before signing a contract.

Ultimately, this family decided to shift their focus to another complex that allowed both of their pets. They found that although the fees were slightly higher, the complex had more lenient pet restrictions and a healthier reserve fund. Anaheim features a variety of building types, from new high-rise condos near Disneyland Resort to older low-rise complexes on the outskirts of the city. New high-rises tend to have higher fees due to the costs of elevators, lobbies, and fitness facilities, while older low-rises may have lower fees but slower reserve fund accumulation, making it crucial to consider both regulations and financial status.

California has some of the strictest regulations regarding reserve fund management in the nation. California Civil Code Section 5550 mandates that HOAs conduct a reserve study at least once every three years and review it annually (according to FindHOALaw data). Additionally, following the 2015 Berkeley balcony collapse, California enacted SB 326, which requires structural inspections of external elements like balconies, decks, and stairs in buildings with three or more units, with these inspections occurring every nine years. Accumulated costs for these inspections and repairs can lead to special assessments in complexes with insufficient reserve funds.

Afterward, the family also reviewed rental restriction clauses along with the pet regulations. Since they wanted to keep the option of moving to another city open, it was important to check whether they could convert to rentals within a few years after purchase. Some complexes impose limits on the percentage of units that can be rented, so if a complex is already close to that limit, they may face restrictions later if they wish to rent out their unit. These regulations can directly impact living plans just as much as the fee amounts, so it is necessary to review them carefully before signing a contract.

Lending institutions also assess the financial health of the HOA; if the delinquency rate, litigation history, or reserve ratio falls below certain standards, the condo may be classified as non-warrantable, leading to loan denial. If you are looking for a condo near a school district favored by Korean families, consider checking ratings from GreatSchools or Niche, but keep in mind that school district boundaries change frequently, so verify the assigned school for the specific address before purchasing. This article is not investment or legal advice, and it is recommended to consult with professionals before finalizing any contracts.