ALL ABOUT HOAS EXPLAINED
Homeowner associations (HOAs) are non-profit entities designed to maintain and manage communities, whether it be for single-family homes, townhomes, or condos.
ROLES OF HOMEOWNER ASSOCIATIONS
A large role of HOAs is to enforce any regulations and bylaws created by the original community developer. This includes any restrictions or mandatory things that need to be done on the part of the homeowner. HOAs also collect monthly fees and dues from community residents that are used to maintain different aspects of the community like landscaping or to provide security services. These fees range depending on the HOA in your community.
BENEFITS OF LIVING IN AN HOA COMMUNITY
Although some people may feel that living in an HOA community isn’t for them strictly because of the fees and restrictions, there are numerous benefits:
AMENITIES
HOA neighborhoods typically offer amenities for the community to use, including community centers or clubhouses, swimming pools, sports courts, and more.
MAINTENANCE
Instead of hiring your own maintenance for trash pickup or landscaping, HOAs normally handle it. This means you get to save more money and you don’t have to put in the work of finding the right company for the job.
NEIGHBORHOOD MANAGEMENT
If you have a complaint about loud parties, a neighbor’s loud dog, or any other general issues, you can file a complaint to your HOA so they can handle it. Instead of a potentially hostile confrontation, you can just as easily allow the HOA to take care of the issue peacefully.
MARKET VALUE
Homes in an HOA community often have a higher market value because HOAs make sure to set high standards when it comes to home maintenance. This includes proper lawn care and making sure the outside of homes stay looking good. When it comes time to sell your home, you’re likely to get more value out of it because of that.