If you own a house or a condo for which you share an area, then your area may be monitored by a Homeowners Association. But, just what do they do and what do you need to know about them? Don’t worry, we have your answers.
HOAs, as they are sometimes called, are responsible for maintaining your area. If you share green space, such as a lawn or trees – or if you have common facilities such as a pool or common meeting areas – then those areas may be maintained by the association.
But, remember, there are costs for these services.
On average, an HOA will usually charge a couple of hundred dollars per month. However, depending on the area and the size of your home, it could be higher or lower. After all, a bigger family will need more services than a single resident.
In addition, some associations will charge extra to have more money to fix unexpected things such as a broken pool or common area – especially the newer ones that host a movie night. After all, those fancy theater seats in the common area may cost a pretty penny to fix.
Also, remember there are rules that are governed by your HOA. One of them may by to gather at monthly meetings to discuss pertinent issues such as what to fix, how long it will take and the best way to pay for it. You’ll also have to abide by rules about pets, making sure your mailbox, house color and curtains are all uniform with the others in the group to maintain a sense of blending in.
You should understand the rules about pets, make sure your mailbox, house color and curtains are all uniform with the others in the group to maintain a sense of blending in.
You’ll also need to sign paperwork acknowledging that you understand the rules of the association. Check with your HOA to find out the details of these rules.
Not paying attention to them – or not paying your fees on time – could result in eviction or even foreclosure of the house. So, it is imperative that you ask about – and pay attention to – your Homeowners Association’s rules. It’ll save you a lot of trouble in the future.
The Powell Group wants to help you understand everything about your local HOA, and our team members are here to answer all of your HOA and other housing questions.
If you are still looking for the best house and HOA rules in our area, you may have a look at our website to view all of our available homes. We will be glad to help in any way we can.
(Picture used from YouTube)