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HOA (Homeowner`s Association) is a regulatory body of a housing complex or condominium that lays and enforces regulations for the said premise and its residents. Residents of the property within the HOA jurisdiction routinely become a member of the body and require to pay the stipulated fees within a specific time. The fee is known as the HOA fee. Some organizations can lay stringent rules about the owner`s rights to his property. Residents of the building complex constitute the board of the body supervised by a board of directors. The HOA fees are usually collected monthly or annual basis. For non-compliance, the board can impose a fine on the member.
The guidelines are aesthetic-oriented.
Through HOA services, you can pay your HOA fees. They deposit the money as soon as possible. Through their online portal, you can check and pay the dues within the due date. You can make the payment over the phone; the service is available round the clock, seven days a week. Or you can via Master or Visa card, but they levy a charge for the service. The fee is used to preserve and enhance the property value of the building or condominium. Of then, the guidelines are aesthetic oriented to maintain cleanliness, maintenance, and repair work of the property. The formulated guidelines strive to maintain an identical exterior of the premises within the HOA zone.
Enhance the value of property
The fees collected from members are used to enhance the value of the property by providing additional services like landscaping, swimming pool, tennis lawn, or community space for a party.
The basic service of HOA is inclusive of garbage disposal and snow removal. From an academic viewpoint, the HOA represents self-governance and democracy. The idea is to select the most suitable members of the board of directors for smooth and effective operation. The high fees of HOA may be a hindrance to prospective home buyers. Sometimes the guidelines are too restrictive for some property owners who want autonomy to customize their properties.
(CC&Rs)
Most HOAs are registered and thus subjected to state regulations. In some states, the HOA of condominiums is known as condominium communities, and cooperative-based HOAs are called co-op boards to differentiate between their nature of property and services. Community HOAs is a broader term inclusive of condominium communities and co-op boards. All community HOAs have their compliance guidelines specifying the duties of homeowners scripted in the Association`s Declarations of Covenants, Conditions, and Restrictions (CC&Rs). These guidelines are displayed in the document section in the portal of the HOA.
Courtesy or compliance letter
A courtesy or compliance letter is issued by the HOA to a homeowner to state a rule has been violated by the person. In the first case, the HOA assumes the act was involuntary and out of ignorance of the HOA guidelines. Compliance letters are issued to keep the zone clean and organized and to maintain and enhance the property value of the residents. If the resident wants to raise an objection to the compliance letter, he can contact the HOA services. Unless it is specified, a daily fine would be imposed on the homeowner after correcting the issue need not notify the board.
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