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What is an HOA?

What is an HOA?

Throughout Southern California, and beyond, Homeowners Associations (HOA) are becoming increasingly more common. There is a lot of rhetoric, positive and negative, floating around about HOAs. However, there are many advantages for living in a community governed by an HOA that make the extra fees worth it in the long run.

1. They manage the common areas. Throughout your community, there are various kinds of landscaping that is kept up by the HOA. They make any structural changes to common buildings and pay for upgrades. They monitor the on-site gym and pool, and even provide access to rooms for events.

2. Conflict Management. They hold open meetings to hear and solve disputes between neighbors. Rather than escalating the matter to a possible courtroom scenario, the HOA can work with the owners. They can decide as a collective on how to move forward with input from other community members.

3. Increase home value. HOAs often increase home value for residents because they typically have various amenities and the neighborhoods are adequately taken care of. In addition, homes or buildings in the neighborhood have to meet certain standards or restrictions, which also keep them in good condition and ensure they do not violate any codes.

4. Opportunity to contribute to community. If you wish, you can join the HOA board or simply provide your opinion. It is typically a democratic process, so input is always important when making the community work for you. HOA boards are a great way to make sure you are in the know regarding events and updates.

Do you have more questions about HOAs? We manage HOAs and POAs and would be happy to help guide you through starting one or joining one.

 

By |2019-12-10T15:12:52-08:00December 16th, 2019|Property Management Tips & Tricks|0 Comments

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The MGR Review is designed to bring you the top news and tips regarding property management and real estate in Southern California. Our near forty years of experience in these industries give us a keen insight on how best to succeed. Let us know if there is a topic you would like us to discuss!

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