Frequently Asked Questions
Will, there be HOA? What are the HOA dues?
Yes, there will be a homeowners association. Think of the association as an entity that cares only about unit owners and protecting their investment. And also as the entity that saves you a lot of time doing repairs and replacements to the exteriors so the development holds its appeal and value. HOA dues are assessed monthly, are based on Unit square footage, and are available at any time for review.
Will there be an HOA board made up of elected board members?
Yes, all Unit owners are eligible to serve on the board. The board ensures management iof the association’s affairs is conducted by the owners themselves.
Do I have to mow my own grass, dump garbage and snowplow?
Most grass is within a common area, like a playground or park. So no. But If your Unit has a large side or front yard, like those on the Bluffs or Highliner Row, then yes, you may have to cut some grass. You have to deliver your refuse to common dumpsters close to your unit, and the only snow you need to remove is on your own deck, entry, or patio.
Can I launch my boat for free?
Yes, all unit owners launch for free as long as it’s for personal use. If a Unit owner has a charter business, he can launch but will need to pay a fee for the added commercial use. The fee will be set by the association.
Can I have people spend the night at my house?
Yes, you can invite your friend
Can I placemy house on air BNB?
Yes, within some community governed standards. These standards ensure a Units owner’s reasonable ability to rent, but also the ability of the community to enforce common community standards—for example, cleaning up pet waste, or limits on noise or outdoor music.
Can I sell my house whenever I want to whomever I want?
Yes,
Can I paint the color of my house the color I want exterior?
No, you cannot. Exterior siding is designed for longevity, and does not require painting for the most part. So the color of the siding is meant to complement other surrounding units and the whole project.
Who pays my property tax?
The owner of the units pays for property tax just as he would for a non-condominium. However, Insurance is paid by the HOA and is indulged in your dues.
How are most deals financed?
Most are financed through AHFC or a mortgage broker who can place your the loan where the markets are most competitive, which might depend on your down payment and proposed unit to buy.
Do I need to work with a real estate broker?
No. KLI, the developer, has a solid track record on the Kenai Peninsula with large projects of this nature. They have built a reputation for honest dealing. and will provide references upon request. However, Broker participation is welcome.
Who provides the contract and what kind of deposit does KLI require?
KLI provides the contract and a small deposit of $5,000 typically secures the purchase agreement until closing, unless customization is required.