HOA fees aren’t tax deductible if the property is your primary residence. If you purchased the home as a rental property, you can deduct HOA fees because they’re considered a rental expense. Even if you live in the rental property for part of the year, you can deduct the fees for th...
If you’re considering a home that’s in a Homeowner’s Association (HOA), you’ll want to carefully consider the pros and cons. Learn more about what HOA fees are and how they work.
these are important benefits, you won’t mind paying the fees or dues. Just be sure to have your real estate agent help you do the proper due diligence before you buy. If these services and amenities are not important to you, you might be happier living in an area outside of an HOA...
A homeowners association (HOA) is an organization in a subdivision, planned community, orcondominiumbuilding that makes and enforces rules for the properties and residents. Homeowners associations are run by a board of directors and typically collect monthly or annual fees to pay for common area ma...
Plain and simple, if you live in an HOA that has the right to foreclose, you run the risk that you could lose your house if you can’t cough up the HOA fees on time or if you get sick of playing by someone else’s rules. That’s a tough pill to swallow. So . . . Should ...
This is particularly true in communities that have shared amenities such as a pool, tennis courts or common areas. From a practical standpoint, it may seem that a fee is a fee, whether paid to a condo board or a homeowners' association (HOA). Yet, condo fees and HOA fees are different...
When new homeowners buy in an HOA community, they commit to adhering to these rules — and paying the required fees. Benefits can include groundskeeping, exterior maintenance and trash pickup, along with protection of their property’s value....
Can You Avoid Paying Fees to the HOA? If you own a home within an association area, you aren’t likely to avoid paying fees. However, you might be able to reduce the amount you pay in some circumstances. Your first step could be to get a copy of the budget for the association. Thi...
Your members should be able to register for events, pay event fees, and update their RSVP status. 6. Financial Tracking and Reporting: Your HOA software should maintain accurate financial records and allow you to pull reports and analyze data at any time. Try This Self-Managed Homeowner ...
You cancall your favorite REALTOR and ask them to send you a list of propertiesin the areas you want to live in that has no HOA or no HOA fees.. Can I have chickens in my backyard? Backyard chickens can make excellent additions to a family – no matter where you live. In the U....