When people talk about homeowners’ associations, they often talk about the rules and regulations. The association can tell residents where to park, how many people can live in a home, what style choices they have to use when doing renovations and things of this nature.
But an HOA isn’t just about restrictions and rules. There are also some significant benefits that people need to consider.
A uniform atmosphere
For one thing, an HOA tries to create a clean and uniform atmosphere within the neighborhood. There are regulations on what paint colors can be used and when people have to do maintenance, for instance, so that all of the homes are of similar styles and in a similar state of repair. For many people, this makes the neighborhood feel comforting and inviting.
High property values
Another reason for these regulations is that they can help to maintain property values. Outside of an HOA, someone could have a neighbor who lets their home fall into severe disrepair, doesn’t cut their grass, parks in the lawn and things of this nature. All of this could make their home less attractive to potential buyers. Since these issues are already addressed in an HOA, property values tend to stay fairly high.
Community services
Finally, the funds that an HOA receives are often used for community areas or services. An HOA may have a pool or tennis courts for the residents, for instance, or a playground for children. Residents may get leaf removal or snow removal services, or the HOA may pay for upkeep on street lights, sidewalks, and roads.
In some cases, disputes arise between residents and homeowners’ associations. Those involved need to know what legal steps to take at this time.