What is a HOA?
A Homeowner's Association is comprised of two or more homeowners that belong to a mandatory membership organization for the maintenance of commonly owned real estate, improvements and regulations of privately owned property in a given area. New community developments are often required to form a HOA charged with maintaining common areas within the development. These are commonly called homeowners or community associations. HOAs typically are responsible for managing community interests, their board’s direction, and enforcing the guidelines in their covenants, conditions and restrictions (CC&R).What is an Assessment Fee for?
Homeowner's Associations can assess mandatory fees for common property maintenance. These are usually very low yearly fees that pay for the upkeep of common neighborhood properties like the entrance to the neighborhood, retention pond maintenance, and in the case of some neighborhoods the maintenance of clubhouses, pools, and parks.
Do I have to listen to the HOA?
HOAs administer the rules and uphold the covenants of a subdivision, development or condominium complex. Many of these rules come from property laws imposed by the state, county, and city. Leins can be placed on property in violation of these laws. Some violations can result in fines.
- Read more at: Homeowners Association Laws
Why do we have meetings?
The benefit of attending meetings is not just to be heard, but also to hear what is going on. If an HOA is considering a particular course of action, you'll want to find out as soon as possible. Similarly, you'll want to learn of any proposed bylaws or other changes in how the community will operate. Voicing your opinion could add a new perspective to a proposed policy that the board might not have considered.- Read more at: Homeowners Association Laws
No comments:
Post a Comment