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What does HOA Membership look like?

So now that you’re in, what should an HOA do for you?

HOAs, or homeowner’s associations, are groups of people  within a certain type of real estate development that establishes and enforces rules and regulations for that community.  Typically the HOA has a board of elected, volunteer officials.  HOA members are composed of the homeowners, who all adhere to the same rules, regulations, privileges and protections provided by that HOA.

 

What kinds of services are offered by my HOA?

HOA functions include property maintenance, such as landscaping and snow shoveling, garbage removal, pool cleaning, laundry machines, and many more.  As important as the services and shared communal spaces within an HOA, are the efforts made by the HOA at maintaining property values.  Dues collected overtime go into HOA reserves for investments that affect communities at large.  Examples are window or water riser replacements, property expansion, and new amenities.

At the same time, HOAs can limit members and their efforts at individual property altering, otherwise known as Common restrictive covenants (CRCs). For example, in efforts to maintain property values through cohesive aesthetic measures, and HOA may require all fences within a community be white-picketed and thus, block a member from installing a less-expensive, chain-linked fence.

 

Do I have a voice in my HOA?

HOAs have plenty of rules and bylaws.  These rules are intended to protect all the human rights of the HOA members, and should be applied equally to all. Be sure to get to know these well in order to avoid sanctions or fines. It is equally important to know when board meetings are held for important votes and decision making for your HOA.  Participation and voting is an essential component to ensuring your voice is heard within an HOA.

For this reason, Kohab designed a virtual voting and communication platform so all members can participate in key discussions, votes, and communicate effectively with other members, board, and property staff.  At Kohab, we call this platform, “Technology with a Heart.”  We want to ensure that you are as happy every day in your home and community as we want to be.

To better understand HOA rules and regulations, check out these helpful links:

 

https://www.realtor.com/advice/buy/homeowners-guide-to-hoas-homeowners-associations/#can-you-change-restrictive-covenants

August 2020

Becoming a Homeowner within an HOA

Meet Lauren, a first-time homeowner, learning everything there is to know about buying a new home and being a member of a homeowner’s association.

Buying your first home or finding your dream home is no small thing- it’s life changing.   Below, we’ve outlined the a-b-c’s of homeowner’s associations (HOAs) so you can make the best decisions about your purchase and navigate the rules and regulations of HOA communities.

A. 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. Important questions to ask:

  • How often are board votes held?
  • How does the HOA handle conflicts with residents?
  • Does the HOA have green provisions?
  • Are there parking restrictions?
  • Does the HOA have rules for fences?

B. 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.  What kind of questions to ask:

  • How much are dues?
  • How often are they assessed?
  • What are the average increases over time?
  • How often are there special assessments?
  • Is building maintenance included?

C. Amenities, such as access to a pool, gym, golf course, laundry, security or lounge are often included with HOA dues.  When looking at a property that has an HOA, the first thing you should consider is what’s included.

  • What amenities are included?
  • Does HOA maintain landscaping?

While we’ve designed this post to make your house-hunting easier, we’ve also created KOHAB to make living in an HOA easier, with transparency into all of the components above.

If you’d like more information about buying into an HOA, check out these helpful links:

https://www.investopedia.com/articles/mortgages-real-estate/08/homeowners-associations-tips.asp