Homeowners associations (HOAs) are meant to protect residents in a community and make sure that everyone is enjoying the shared amenities safely and fairly. However, there are times when managing an HOA can be frustrating when working with other representatives and community members.
If youâ€™re thinking about joining an HOA in a new development, you should know the benefits of HOAs and what you can expect in your new community. Continue reading to find out the pros and cons of managing an HOA and whether or not it makes sense to move to an HOA this year.
Benefits of HOAs
Homeowners associations are put in place for many different reasons. However, they all center around maintaining property values and ensuring residents are happy with their living arrangements.
Below are some additional benefits of HOAs:
- Help to maintain common areas like pools, fitness centers, and business suites
- Ensuring the neighborhood is safe for all community members
- Monthly HOA dues pay for services like landscaping and general upkeep
- HOAs mediate disputes between members and come to a resolution
Drawbacks of HOAs
While HOAs serve a purpose and are necessary for most communities, there are some drawbacks of HOAs you should consider before moving to a community governed by a homeowners association.
- Monthly HOA dues. These monthly dues cover maintenance of amenities and common areas, and everyone in the HOA must pay them. HOA dues usually start around $100 per month but can be much higher depending on the neighborhood.
- Rules and regulations. Some rules set forth by the HOA may be unreasonable or excessive. Unfortunately, there isnâ€™t much you can do outside of petitioning to change some of the rules, which can be a lengthy process.
- Lack of home customization for residents. The HOA may have limitations on how you can customize your home. They may restrict certain paint colors or fixtures on the home’s exterior. Those who want to make changes to their property will have to abide by the rules of the HOA.
Managing an HOA
Managing an HOA can be a rewarding job. Youâ€™ll be responsible for making sure residents pay their dues on time and issuing punishments for those that donâ€™t. Managing an HOA often means youâ€™ll take part in creating new rules and ensuring everyone abides by them. Youâ€™ll also listen to HOA members and their complaints and have to come up with solutions that benefit the HOA as a whole.
While managing an HOA can be a great way to get involved in your community and make a difference in the lives of others, here are some reasons why you may want to think twice about managing an HOA:
- Managing an HOA can cause personal conflict between you and community members
- Youâ€™ll most likely need to make difficult decisions in disputes between members
- Collecting HOA dues can be frustrating
The bottom line
Managing an HOA is something that most people shy away from. The HOA board is responsible for the safety of its residents and for creating new rules that benefit the entire community, and becoming a board member isnâ€™t attractive to most people.
If you want to start managing an HOA, we recommend talking with your current HOA board to see if there are any open spots. Then you can work your way up and possibly become the president of the HOA in the future.