A homeowners’ association (HOA) is a nonprofit organization that is accountable for making sure that neighborhood rules are adhered to by all owners. It is also in charge of implementing regulations set forth in its governing documents. If you are looking into purchasing a house, condominium, or townhome in a planned development, it is important to be familiar with the homeowner’s association. By buying a home within an HOA you are agreeing to follow all rules and regulations, so being informed is a must. For help managing your HOA, contact our Flagstaff HOA management company today!
Why do people like homeowners associations?
1) Common Area Upkeep
Whether it is a planned community or a condominium association, there are shared spaces, typically referred to as common areas, that are for the use of the homeowners. These areas typically include things such as pools, playgrounds, parks, gyms, parking areas, and more. While occupants usually love having these amenities, it is not typically their liability to look after them. That’s where the homeowners association comes into play. Well maintained after and properly funded HOAs will take care of and improve upon any common spaces which is beneficial for property values.
2) Collecting Dues
The HOA is charged with collecting assessments in a timely manner per the governing documents. Having an assessment or due, whether it be monthly, quarterly, or yearly, allows for homeowners associations to preserve the community. With these funds they can maintain common areas and pay necessary bills and vendors to keep the community beautiful. An HOA management company can assist by providing billing options and incorporating collections practices if necessary.
3) Dealing with Concerns
Another advantage of HOAs is resolving issues between the residents themselves. While everybody anticipates being a great neighbor and never getting into any quarrels, they do tend to take place. Typically, the HOA’s governing documents offer a non-bias means to resolve any concerns that may arise and maintain peace in the neighborhood.
4) Creating Social Gatherings
Homeowners’ associations don’t just enforce rules and collect payments – they strive to create a sense of community. One of the ways this is done is by creating community events that are paid for by the dues already collected by homeowners which creates a great opportunity for neighbors to get to know each other and socialize.
5) Residents’ Interests Can Be Protected at a Local Level
Sometimes there are municipality issues or concerns that arise within a town or city and HOAs can work as a larger resource to lobby on the residents’ behalf. This is a benefit of being a part of a larger group that is looking out for the best interest of the community.
Get a Flagstaff HOA Management Company Today
An HOA can do a lot to develop locality and keep the home values high. If you manage an HOA in Flagstaff, be sure to contact our HOA management services today to see the services we can provide you.