What You Need to Know About Living with an HOA
An HOA, or homeowners’ association, is a community organization that maintains order within a neighborhood. The HOA creates and enforces rules for general upkeep of the properties. Homeowners must abide by these guidelines or risk fines.
For this service, homeowners pay fees, which are usually due at the beginning of each calendar year. In some communities, however, the fees are quarterly or even monthly.
Read on to find out how to live with an HOA, as well as its benefits.
How an HOA Works
Your HOA consists of a panel of elected board members. These members vote on community issues and supervise the general goings-on in your neighborhood.
Fees vary according to the activity of your HOA. They can range from the low hundreds to a few thousand a year. If your HOA is relatively inactive and your neighborhood doesn’t have many amenities, you will probably pay on the low end. But if you live in a neighborhood with an involved HOA and high-end amenities, expect those fees to be significant. After all, the money you pay goes toward the upkeep of those amenities.
A large part of your HOA’s responsibilities include ensuring your neighborhood’s beauty and conformity. Within every HOA community, there are rules for parking, noise levels, backyard structures, and exterior paint colors, and more. Some HOAs are stricter than others, but overall, the board is responsible for enforcing these rules.
How To Coexist With Your HOA
1. Make sure you understand the rules.
2. Learn about fees and fines.
3. Ask permission before you make any changes.
4. Get involved.
Feel free to attend meetings, where you may simply observe or even present issues. If you’re interested, HOA boards elect new members from time to time and you may want to put your name in the hat.
