Property Ownership
An Indiana condominium owner's monthly HOA fee typically covers:
AOnly interior unit repairs
BCommon area maintenance, insurance on common areas, reserves for future repairs, and management fees✓ Correct
CEach owner's individual property taxes
DIndividual unit mortgage payments
Explanation
Condominium association (HOA) fees cover the shared costs of the development: common area maintenance (landscaping, hallways, pool), building insurance, management fees, and contributions to a reserve fund for future major repairs.
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