Depending on the development, as well as state and federal laws, an HOA could slap you with warnings, fines, and potentially even put a lien on your home - providing they are within their legal rights to do so and they follow the correct procedures. Well, you’d be surprised by what kind of recourse you could face. HOAs have a lot of rules and regulations, that is to be sure! What happens if you break one of those rules? What kind authority do board members (who may happen to be your neighbors) have? Whether or not you can rent out your home for a short time (such as on Airbnb).Rules and schedules for trash and recycling.How many pets and what kind of pets are allowed.Restrictions regarding lawn ornaments and holiday decorations.Any changes made to the architecture of your home.Most HOA communities have regulations and guidelines regarding the following: The documents will give you detailed information and guidelines regarding what you can and cannot do in the community. What kind of rules and regulations can a HOA make?Įach community has its own set of covenants, conditions, and restrictions (CC&Rs), and it is in your best interest to request a current copy of the governing documents for your specific HOA. An HOA board member called me and requested I have the seller repair the gutter,” she adds. “Once, I had a listing that had a loose gutter. They patrol the neighborhood to see if the yard is mowed, Christmas lights have been taken down, and if things need to be repaired. Mary Stewart, a seasoned real estate agent in Texas who’s been in the business for more than 40 years, elaborates: “They make sure that a lot of the rules aren’t being broken. You’ll usually find HOAs in planned developments like a condo complex, townhome communities, and in both many newly developed and established neighborhoods with single-family homes. Source: (topseller / ShutterStock) What is the purpose of a homeowner’s association?Īn HOA is a group of community residents (or a management company) that enforces the rules and regulations that fellow residents must follow. However, what about the HOA’s responsibilities to homeowners? Let’s dig into the purpose of an HOA, the duties of the board members, and where all that money goes. Whether or not you’ve lived in one of these communities, you probably already know that homeowners have responsibilities when they live in an HOA. In 2018, more than 73 million Americans called these communities home and collectively paid HOAs more than $95.6 billion in association fees - also referred to as assessments. Some of these HOAs are managed by large management companies, but the vast majority (70%) are handled by community volunteers.
In the United States, there are more than 347,000 communities with a homeowner association (HOA).
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