Owners who live in a home with an HOA are generally required to be members and pay fees to fund operations. Money from HOA fees goes toward a wide variety of uses. Most often, these cover the upkeep of common areas and amenities, common area insurance, and other shared costs for the co...
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Good HOA governance, following state laws, and maintaining common areas, can increase property values by making it a desirable place to live; bad rules can scare off buyers and decrease property demand. Disclaimer: The information provided on this blog is intended for general informational pur...
which can include everything from landscaping and lawn care to swimming pools and sports facilities. How much the HOA oversees can depend on the community type: It may be responsible only for maintaining common areas, such as high-rise lobbies and hallways, or it may cover much, much more....
Your HOA is required to carry insurance for injuries or damage sustained within the confines of the areas the HOA is responsible for maintaining, including common spaces and recreational areas or other exterior locations, like sidewalks. You’ll still need an individual insurance policy to cover eve...
Homeowners’ Associations (HOAs) play a pivotal role in maintaining the quality and standards of a residential community. They are responsible for a variety of expenses: Common Area Maintenance: This includes landscaping, cleaning, and upkeep of shared spaces like parks, clubhouses, and swimming poo...
Since multiple parties live in the same area, all residents are equally responsible for maintaining the common areas. Some homeowners’ associations are very strict and have certain rules that must be followed. These rules can include what color you can paint your house, how tall your fence can...
Ahomeowners’association (HOA) is an unincorporated nonprofit association consisting of property owners living in a specific condominium building or residential neighborhood. Generally, the goal of ahomeowners’association is to ensure common areas are wellmaintained, andcertain use and building restrictions...
HOAs are responsible for maintaining public areas as well as shared structures and systems. Public areas include greenways, community swimming pools, sports courts, and any roads that aren't maintained by a local government. Shared structures and systems apply primarily to condominiums and apartments,...
HOA fees typically cover the costs of maintaining common areas, such as lobbies, patios, landscaping, swimming pools, tennis courts, a community clubhouse, and elevators. In many cases, the fees cover some common utilities, such as water/sewer fees and garbage disposal. The association may also...