HOAs also set rules that are designed to improve your community, like parking stipulations or guidelines on landscape maintenance. Your HOA might even have control over which color you can paint your home or condo, what outbuildings you can erect on your property or the number of pets you can...
HOAs were formed in the United States during the mid-19th century as a way for land developers to market and sell their homes. They were relatively unheard of until the 1960s when the rapid growth of suburban developments led to a quick expansion of HOAs around the entire U.S. Today, mo...
Why Homeowners Associations Exist HOAs exist to provide services for the residents of the community. They also help to contribute to a well-maintained, organized community that members can enjoy living in.The benefits of an HOA are neat and tidy neighborhoods, and often, additional amenities that...
In some situations, HOAs are responsible for snow plowing, hiring garbage and recycling contractors and other regular maintenance issues. In others the municipality in which the planned community is located takes care of these items as they do for other residents. HOA Presidential Responsibilities The...
Rent or homeowners association payments.Many landlords and HOAs still prefer or require checks for record-keeping purposes. Payments to contractors or service providers.Checks can provide a clear paper trail and might be requested by some independent contractors. ...
Socializing opportunities:Many HOAs organize events like pool parties, barbecues and doggy playdates. In addition, you regularly see your neighbors face-to-face in passing. “Condos are a great place to meet people,” says Leonard. Cons
Homeowners associations (HOAs) are private groups that create legally enforceable rules about what you and your neighbors can and can’t do with your property. Despite their portrayal in pop culture, HOAs aren’t always a nitpicky suburban hive mind. HOA fees pay for neighborhood maintenance and...
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How Do You Calculate Reserve Funds? To know how much reserve funds they need, HOAs must conduct a reserve study. In some states, the law requires HOAs to conduct a reserve study every three years. Even if there is no law in your state, it’s good practice to have one anyway. A rese...
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