Whether you are brand new to your neighborhood association or a long-time resident, you may have a love/hate relationship with the Homeowners Association (HOA). In this article, we will cover 5 reasons to love your HOA.
1. Stabilize property values
Each HOA has a series of Covenants, Conditions & Restrictions (CC&Rs), Rules & Regulations or the Bylaws that governs the association. These documents reinforce the intent of creating a community who work together in a voluntary association to achieve a higher quality of life and stabilize your property values. From basic maintenance to infrastructure, the CC&Rs, Rules and Bylaws are intended to lay out the guidelines and processes behind keeping your community safe, beautiful and vibrant.
2. The amenities and common areas
Each HOA has specified amenities and common areas that will help boost the enjoyment of your home and make your community a more desirable place to live. Amenities may include pools, golf courses and gyms. Common areas may include playgrounds, boat ramps, rooftop decks and parks.
3. Maintenance services
“I can’t wait to mow the lawn on Saturday”- said no one ever. HOAs may take on the burden of maintenance for the entire community including mowing lawns, removing snow, trash pickup and cleaning common areas. For certain homeowners, the value of these services far outweighs the alternative of owning the equipment, doing the work, cleaning it up and doing maintenance.
4. Costs are shared
The costs associated with running and maintaining a building or neighborhood can be expensive. Whether it’s regular maintenance, preventative maintenance, repairs or upgrades, the costs of the services are shared across the neighborhood. Depending on how your HOA is set up, your costs may be equally shared or weighted. Check your HOA documents to see how your community has it broken out.
5. Conflict resolution
Did you know that HOAs can help manage disputes between homeowners? If you can’t solve the problem directly with your neighbor that violates the CC&Rs, Rules or Bylaws, you can submit a complaint to the HOA board. There may be an investigation done by the board, but they have the responsibility to reach out to the homeowner and correct the situation.
Now that you’ve been through our take on the reasons to love your HOA, check out 5 Reasons to Hate Your HOA.
Whether you are brand new to your neighborhood association or a long-time resident, you may have a love/hate relationship with the Homeowners...
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