Homeowners Association or HOA is an organization that provides rules and regulations for homeowners. The association also maintains the property values of a neighborhood. To afford these maintenance services, there are Homeowner’s Association dues. HOA managers work to keep your neighborhood appealing.
What are the benefits of HOA fees and homeowner’s association? Read this guide to learn why HOA dues are vital for your neighborhood!
Improves Property Value
One huge advantage of Homeowner’s Associations is that it can improve the value of your property. In fact, a study shows that people that are part of Homeowner’s Associations sell their homes for 4 percent more than those not in an association.
This is a huge amount of money! If you want to improve your property value, it may be beneficial to be part of an HOA.
Benefits Your Property
Not only does an HOA improve the value of your property, but it also benefits the other aspects of your property. For example, your landscaping will be professionally managed and kept in pristine condition!
Not only will your home look much better, but you will also have exclusive access to other amenities. These amenities include parks, lawns, play areas, and more.
Finally, the rules and regulations of an HOA make your neighborhood look good. For example, the rules may include noise limits and a certain level of maintenance requirements. This will prevent your neighbors from letting their yards become overgrown and unkempt.
Through the HOA, you can raise neighborhood issues with the association and the board of directors.
There are online HOA message boards, which can help you spread messages – tips, suggestions, etc. – around your neighborhood. Any advice will be helpful to improve your community. You can also check out these messaging boards for new HOA rules and other vital infos that you need to know.
HOAs help educate homeowners. Through the HOA, homeowners are more aware of the benefits they get as a part of the association. Also, they’ll learn ways to increase their property value and understand HOA assessments.
Covers Annoying Maintenance
One of the biggest benefits of the HOA is that it covers all the annoying regular maintenance that homeowners have to do to maintain their homes.
For example, HOA will landscape and make sure the yards and common areas are in pristine condition. You will never have to worry about setting up sprinklers, weeding, or even mowing your lawn. This even includes community areas like parks, walking paths, and more.
HOA could also take care of snow removal during the winter months. Snow is such a hassle to remove and dangerous to do on your own. Your homeowner’s association will hire professionals who will keep your sidewalks and roads clear during the winter months.
Finally, your HOA will take care of things like trash removal. Instead of having to set this up through your city, the HOA makes it much easier!
How are Homeowner’s Association Dues Calculated?
All these HOA perks will cost you. And if you want to know why you’re paying these dues, it’s a must to understand how these charges are calculated.
First, the board of directors of your homeowner’s association creates a budget for your neighborhood. The funding covers the cost of maintenance, repairs, services, etc., of every unit.
Once the budget is set, the maintenance schedule is chosen. Your board of directors will divide the total cost of each of these projects by the number of homeowners in your neighborhood. This is how they come up with your HOA fees. Everyone in your community pays the same dues.
Who is an HOA Manager?
An HOA manager is the person that handles the upkeep and maintenance of your community areas. Not only do they work to maintain these areas, but they also make sure others maintain them as well.
An HOA manager helps create the rules and regulations within your HOA. These rules keep your HOA tasks running smoothly! Managers also are responsible for helping settle disputes between neighbors in the community.
Finally, the HOA manager handles financial matters and other homeowner’s services. The manager collects HOA dues and fees and facilitates meetings. S/he’s there to ensure your community is kept up to date with any changes to rules and regulations in your HOA.
Find Great HOA Management Today
As you can see, Homeowner’s Association dues are vital to a community for many reasons. The charges keep your property looking good. The dues will benefit you in the long run by improving your property value, building better communication, and keeping the peace within the community.
If you are looking for HOA managers to improve your neighborhood, Silvercreek Association Management can help! Our team helps manage homeowner’s associations, property inspections, member training, and more. Contact us to learn more about the services we provide or to request a proposal!