A homeowners association is an organization that makes and enforces rules for multiple-unit buildings like condominiums, townhouses and planned communities of single-family homes. All the residents in developed neighborhoods are obliged to become members, thereby accepting to abide by their rules and regulations and to pay dues, known as HOA fees.
Homeowners associations (HOA) are becoming increasingly common in neighborhoods throughout the country and the World generally. Complaints are often heard regarding the strictness of homeowners’ associations and the many rules that homeowners must follow. However, it is mostly important to understand the many advantages that are attached with involvement in an HOA.
– Most homeowners associations have the benefit of providing the neighborhood with numerous amenities such as road maintenance, electricity use maintenance, tennis courts, golf courses, pools, a protective gate, and many others. Furthermore, HOA fees and contributions can be used for ground maintenance, which can and will help maintain the appearance of the entire neighborhood.
– The presence of a highly functional HOA can increase the value of homes in the neighborhood and community. The rules and regulations established by an HOA are designed to protect the value of each property. The primary purpose of the homeowners association is noted to ensure that an individual or group cannot negatively impact the market value of homes and discipline in the neighborhood. As a result, rules become a necessity.
– While an HOA is highly responsible for enforcing and retaining rules and regulations, the mere existence of an HOA can obviously prevent unruly behavior. Homeowners who are unable to comply with rules and regulations will be less likely to purchase a home that includes an HOA and this has reduced the level of insecurity that could be experienced in the society and As a result, the community will be more likely to share similar goals and values.
– HOAs also organize community events designed to get to know other residents and improve neighborhood feeling.