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Moving into a planned development often requires residents to join the community’s HOA and pay its fees to help cover the upkeep of common areas, shared structures, and exteriors. Membership also binds homeowners to the association’s covenants, conditions, and restrictions (CC&R).
When a homeowner buys a condominium, townhouse, or single-family home within “a planned development” they may encounter the HOA structure. The HOA structure helps maintain a clean and cohesive atmosphere in a neighborhood.
Is There a Fee Charged for Membership Within an HOA?
Most HOAs will require all unit owners to pay a monthly maintenance charge and may also demand special one-time assessments to cover large community expenses. The HOA’s bylaws will spell out which responsibilities are the associations and which are the unit owners. The fees charged for the HOA help cover the upkeep of common areas, shared structures, and exteriors. Membership also binds owners to the association’s covenants, conditions, and restrictions (CC&R). The Covenants and Restrictions are a set of certain rules and conditions for the owners regarding the maintenance of their property. These conditions sometimes include structural restrictions, like the type of fences or landscape allowed or more minor aesthetic choices, such as the color of paint on a house. The CC&R document may also outline the penalties for violating the guidelines set forth in the CC&R. The penalties range from fees to forced compliance or in some cases, even litigation.
Who Governs the HOA
An HOA usually has a board of directors or governors that are elected to enforce and oversee the HOA’s rules and regulations. HOA members are elected from among the residents and serve to maintain grounds, master insurance, community utilities, as well as the overall finances of the building complex or community.
So Why Choose Providence Management to Manage Your HOA?
Providence Management offers a full-service property management solution that manages your community as a valuable real estate asset while offering a desirable lifestyle for your residents. It begins with a strategic business plan that addresses your challenges and creates a plan for enhancing curb appeal, maximizing property values, increasing resident satisfaction, and ensuring your association’s financial stability, both now and in the future. We want you to have the peace of mind that your homeowner’s association will be handled with the highest degree of professionalism and quality, along with responsive service for your Board members and residents.
Visit our website for more information and to see the HOA and Condominium Association Services we offer.