What is a Homeowners Association?
A Homeowners Association, or HOA, is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and their residents. Within each community, the residents share the responsibility of maintaining their properties and the common areas. To help pay for this, those who purchase property within the HOA’s jurisdiction have to pay a due, known as HOA fees.
What does a HOA do?
The goals of HOAs and Condo Associations are to keep neighborhoods clean, safe, attractive and desirable.
The HOA enhances their communities by acting as liaisons between residents and city, state and federal governments; collects membership fees; maintains property values through enforcing deed restrictions; negotiates labor contracts for common area maintenance personnel; provides social activities for its members; enforces architectural standards in new construction and repair of existing homes within its boundaries.
Why is an HOA important?
Homeowners Associations are important because they keep neighborhoods clean and safe while working to increase property values.
HOAs can be responsible for snow removal; mowing grass; trimming trees; picking up litter; gardening around common areas; enforcing rules (fines); building maintenance of roads/parking lots/ walkways/swimming pools etc.; general maintenance of physical appearance of the neighborhood; maintenance of home exteriors.
The Homeowners Association helps maintain the value of a home’s price by keeping neighborhood standards high with regards to lawn care, no junk cars in driveways and enforcing policies that will benefit neighbor relations as well as property values.
Homeowners Associations can help make living in a neighborhood more enjoyable by providing social activities, such as holiday parties, Fourth of July barbecues and more.
Homeowner Associations can also provide security for your neighborhood by hiring security guards or off-duty officers.
If you are thinking about buying a home, it is a good idea to research the Association and what it includes. Make sure you are aware of all the benefits of being a part of the Association and what rules are. We created a resource that can help guide you through the process.
Ready to Learn More?
Check out the Simplifying the HOA Process ebook to learn more.
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