If you haven’t dealt with a homeowners association before, you should prepare for rules. HOA rules govern many of the activities of daily residents. HOA’s aren’t for everyone, so before you make an offer on a home and move-in, you should understand how one may affect your living experience.
HOA’s are more commonplace in certain parts of the country than others. Their main goal is to maintain increasing property values by creating a positive quality of life. Usually it’s the developer that governs the HOA until a certain amount of homes are sold and then it will eventually be turned over to the homeowners. These fees go towards, parks, pools, garbage, etc. Here are six common HOA rules that you should be aware of.
This is one of the major causes for concern. When you live in community with limited parking, visitors and homeowners tend to park in a highly unorganized manner. This might be reminiscent of living in big apartment community that you can find here https://www.rentkidz.com/apartments-tx-dallas/. These communities have many cars and often not enough spots to park. Guests may block your garage or park in the middle of the street. This can also create an eyesore.
If you’re the type of person who has lots of friends and family who visit, then you will want to check out the parking situation. Is there adequate guest parking? What happens when guest parking is full? Many HOA’s have a parking policy that you should review.
You will be responsible for paying your HOA fees, also called the “assessment” or the “dues.” These fees will vary based on the community size, amenities, and the physical property maintenance that the association is responsible for providing. What do they cover in the community? Usually these fees cover the street, gates, landscaping, insurance, and utilities for the association. In condominium associations, the fees are typically higher because they also cover exterior maintenance of the building and all the common elements in the association. HOA’s also like to keep reserves in case of an emergency. Fees are always a major of a topic if you live in an HOA.
Dogs bark and they leave messes. When homeowners walk their dogs and don’t clean up after their pets this can create frustration for other owners in the community. Some HOA’s have pet restrictions and may even not allow certain size or breeds of dogs. Condominium buildings may also restrict animals and not allow pets of any kind in the building. Other associations may allow pets but require them to be registered so the association has the information on file.
Some homeowners will at one point start to rent out their home. You will find that there are also rules that govern this as well. The tenants who move-in will not have voting rights. Some associations will place restrictions on the number of renters in the association or may not allow renters at all. Many associations will also not allow short term or vacation rentals. Be sure to review the association’s governing documents carefully to ensure that the proper guidelines are being followed.
Keep Up Appearances
Homeowners must make timely repairs and maintain certain standards that are specified in the governing documents of the association. If you choose to repaint your home or replace your fence, chances are there are certain rules to abide by and you must request approval for any changes to be made. Changes or architectural modifications that are made without approval can be considered to be in violation and the HOA may levy fines if the changes are not corrected or brought up to the architectural standards in the community.
An HOA offers many benefits, but buyers must be aware of the rules that govern them. If you are considering purchasing a home that is in an HOA, you should request a copy of the governing documents in order to perform proper due diligence and make an informed decision.
Want an instant summary of important rules at your HOA? Run an Eli Report