Benefits of Home Owner’s Associations
Home Owner’s Associations sometimes get a bad reputation as being the neighborhood police of what you can and cannot do but they serve a vital purpose and have a lot of added benefits to neighborhoods that have them. Some are more strict than others but they all serve the same core functions. Most people prefer neighborhoods with HOAs in Orange County, C.A. because they protect the property values of their homes.
Amenities give value to the neighborhoods with HOAs. Pools, Tennis Courts, Club Houses, and Parks are all examples of areas that Home Owner’s Associations manage. Fees collected by the associations either monthly, quarterly, or yearly go to maintaining these areas. Some associations take care of lawn maintenance as well but this is normally in condo or townhouse communities.
Finances of the neighborhood are normally taken care of by the HOA. This means that reserves are there for improvements or emergencies that might come up in the future. Funds are normally handled by a management company that the neighborhood HOA hires to collect funds and manage monies for the association.
HOAs can bring a sense of pride and bonding to a community. Neighbors can bond through getting to know each other through the association. They can also be a buffer to help deal with each other when someone does not exactly have the best taste in lawn decoration or color scheme for exterior paint. When the rules are written down on what you can and cannot do to the exterior of your home and lawn, it can prevent neighborly disputes from happening in the first place.
- Protecting and Increasing Home Value
- Funds for Improvements and Emergencies
- Community Involvement
- Neighbor Dispute Resolution
- Regulations in Place