You really like order and uniformity. Your HOA has a proven track record of increasing property values, and you plan to sell in a few years. All of that to say, whether you should live in an HOA depends on your preferences. And it depends on how the HOA is run. A well-organized, ...
This is an extreme example, but it teaches a lesson about how expensive litigation can get for all parties. Liens Failure to pay your HOA fees may result in the association putting a lien on your property. If you don’t pay, you’ll have a harder time selling your property because the...
Location plays a large factor in the price of HOA fees — they can vary a lot depending on local laws and how expensive an area’s cost of living is. For example, Tampa Bay, Florida’s ABC affiliate reports that high-rise condo owners are feeling the squeeze due to a new law that ...
Condo owners in the Sunshine State are trying to unload units, as insurance costs and maintenance fees, like an HOA, make it too expensive. It’s led to a 30% jump in condo listings sitting on the market from that just this time last year in Florida. "What you're seeing here...
Liability:Suppose someone slips by the pool and decides to sue your HOA. The fees associated with the lawsuit will likely be expensive, potentially so much so that member dues will not be enough to cover them in full. The liability portion of your HOA’s master policy helps protect you fro...
If you run into problems you can’t resolve with your association, your only recourse in most cases is to sue in civil court, which can be expensive. Even if you prevail, you may still end up paying your own attorney fees. And the association’s fees are going to be s...
The fees asked for by the association can be increased if there is a need for some extra maintenance or repair work. So, your HOA fees may not always remain the same. More often than not, HOA fees rise over time as things become more expensive. ...
Payments:Paying HOA fees with a check in the mail is a thing of the past. HOA software solutions make it simple for residents to pay their recurring fees through an online portal. In turn, board members eliminate the need to handle physical payments and have a better understanding of any ...
More affordable than a house: Condos seen as an attractive option in Vancouver’s expensive real estate market (link) The interesting point for me More than one-quarter (28%) of Vancouver condo dwellers say that their monthly strata fees make it feel like they are still paying rent, so the...
What Are POA Fees? Just like HOAs and COAs, POA members pay dues, too. However, these are usually paid annually instead of monthly. The amount also depends on the maintenance needs of your area and the range of services it requires. ...