What To Expect From An HOA
If you are unfamiliar with homeowners associations, let us explain! Condos, townhomes, or free-standing homes in neighborhoods with shared amenities and common areas are most likely maintained by a homeowners association (HOA). HOAs help to keep your community looking immaculate and functioning properly.
Rather than just any homeowner in the neighborhood fixing any issue that may arise, the homeowners association takes responsibility to get the job done. HOAs typically collect fees, monthly or yearly, from all members of the community. The larger the homeowner area, the higher the HOA fee may be. The reasoning behind this is that a family in a three-bedroom condo will be using the common facilities more than a single resident would.
Many homeowners associations charge their members a bit more than the monthly expensive require in case of property emergencies. These may also cover the payment of things like repairing water heaters or replacing carpeting in the hallways. If there are not enough fees in reserve to cover necessary expenses, an extra fee can be issued in addition to your monthly dues so the repairs can be made.
What To Expect
All HOAs will have board members, which are homeowners in the complex elected by other homeowners. The board members meet regularly to discuss major decisions within the community. Community members will be required to follow certain rules and restrictions, such as how long your lawn can grow, what color you paint your house, or the size and breed of the dogs you are allowed to have on the property. These rules are put in place to maintain a neighborhood aesthetic.
Wilson Property Management
If you are interested in a homeowners association, contact Wilson Property Management today! We manage multiple HOA properties that could be the perfect home for you. Visit our website to learn more!