Homeowners’ Associations are beneficial for a community in that they keep the neighborhood or building maintained to preserve property value. A Homeowners Association is an organization that makes and enforces rules for multiple-unit buildings. When you buy a property within a HOA, you purchase a restricted property deed and automatically become a member of that community! There are fees to maintain the property as well as covenants and restrictions created in an attempt to maintain property value and curb appeal!
Homeowners Associations have common elements for which the association is responsible for maintaining. These elements include swimming pools, streets, clubhouse, landscaping and other common areas that are available to all owners. Typically, their are standards all members must follow.
Homeowners Associations can be associated with condominiums, townhouse complexes, or single-family houses that are part of planned communities. Here at Garden Patio Villas, we are a small community of 83 attached villas.
When you purchase a villa at Garden Patio Villas Association, you agree to abide by the rules and regulations and to pay dues, known as maintenance fees. An HOA has By-Laws which includes rules everyone must follow. By-Laws include: Articles of Incorporation, Declaration of Covenants and Restrictions, and Rules and Regulations. Garden Patio Villas has these governing documents, as mentioned above.
Communities provide a variety of differing amenities which will greatly reflect in the HOA maintenance fees. Here at Garden Patio Villas, we provide a community pool that is heated along with a community center. Other communities might have gyms or tennis courts. Some communities focus on retirees or are built around a golf course. Here at Garden Patio Villas, we are a 55+ community in Margate, Florida.
HOA’s provide needed maintenance for association property. Garden Patio Villas cover all the lawn maintenance in addition to the water bill. HOAs can still be demanding about the do’s and don’ts of living in the community. The HOA can regulate everything from what type of trees you can plant to when you can put your garbage out.
Homeowners Associations have a group of members from the community that are voted into office by all community members. These people volunteer represent the HOA! The great thing about a HOA is that the Board of Directors are always voted into their position. If the Board is doing a good job, members are happy. If they are not doing a good job, members can apply for a position on the Board. Members can make a difference and try and improve their community if they get involved.
What are the pros and cons to living in an HOA?
For starters, HOA’s might frustrate members with the rules and regulations that are required to follow. Common elements (like your roof or your windows) need approval from the Board. After time, members might want to live in a house without those specific standard rules. HOA maintenance fees can be really range in price from $100/month to $1000/month depending on the type of housing, location and amenities given to members. Living in a Homeowner’s Association does not give you the freedom that regular houses can give an individual. For that reason, many people do not want to live in this type of community.
On the contrary, HOA’s take care of a lot of the maintenance of your home or villa. It’s easy to pay the maintenance fee, take a vacation, and not need to worry! When you return, everything is still running and looks good! A good HOA is a pleasure to work with and can easily increase your property value! Many well run Associations have a waiting list to move into!
Homeowners Associations and single family homes have a lot of differences. Make sure to look at the Governing Documents of any Association and research how the HOA is run before making a decision where you want to live!