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Table of Contents Expand. What Is a HOA? HOAs vs. Other Associations. Advantages and Disadvantages. Special Considerations. Frequently Asked Questions. Key Takeaways A homeowner association HOA is an organization that makes and enforces rules and guidelines for a subdivision, planned community, or condominium building.
The members of a homeowner association are the residents of the subdivision, community, or building; some communities require mandatory membership for individuals that purchase property in the zone. Run by a board of directors, homeowner associations HOAs typically collect monthly or annual fees to pay for common area maintenance and the upkeep of facilities.
Homeowner associations HOAs may impose fines on non-compliant homeowners. Pros Set and enforce community rules Protect property values Provide services, amenities, and facilities Offer self-governance.
Cons Impose fees, dues, and assessments Maintain restrictive regulations Operate inefficiently May be run amateurishly or ineptly. Article Sources.
Investopedia requires writers to use primary sources to support their work. Members of the community can vote anonymously one of three ways: in person at a meeting, mailing in their vote, or voting by proxy. Keep a detailed record of their transgressions for example, the clubhouse is filthy or the grass is overgrown. When you have ample documentation, you can approach the board with your concerns. Show them the evidence and even refer to the governing documents to further prove your case.
Keep in mind that this is no easy feat and it will require the community to come together for change to happen — and even then, this change is not guaranteed. In some instances, the threat of a lawsuit could be the thing that finally causes the HOA to fulfill its responsibilities. Although you may not be able to slap HOA members with fines like they can to you, you can follow the proper procedures as laid out in the HOA documents to spark change.
You and your neighbors can band together and discuss your grievances at one of the meetings. You can petition to change bylaws.
You can even vote for new leadership when the next HOA election comes around. And, if push comes to shove, you could always take legal action.
Buyer Resources. Contents hide. Set rules. Meetings and finances. Pros and cons of an HOA. How much are the HOA fees? Can I refuse to pay HOA fees? Related Posts. How to Build Equity in Your Home.
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Close dialog. Session expired Please log in again. A homeowners association is an organization that handles several aspects of managing a community.
The residents of the neighborhood work together to establish guidelines that meet their shared vision and some can serve as members of the HOA. Elected community board members lead some associations, while others are led by a professional property management company. Common duties of board members or a property manager include, but are not limited to:.
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