The Bottom Line on
Homeowner Fees

Homeowners' associations are neighbors dedicated to neighborhood issues.

HOA's can enforce private deed restrictions, rules & neighorhood regulations.

Did you know?

Homeowner Associations work to protect neighborhood property values.

 

Potential Homeowner Fees

Buying a Home that Has a Homeowners Association

Before you buy a community-managed home or condominium, ask us to help you understand the role the homeowners association (HOA) will play in managing your property.

A homeowners' association is a group of neighbors dedicated to neighborhood issues. They form a legal HOA entity empowered to enforce private deed restrictions, rules and regulations.

HOAs are designed to protect the community’s property values. Each association operates differently, depending on the assets the community and what the members are willing to pay for the upkeep of shared property and amenities.  

Homeowners' associations typically do the following:

1. Set and collect fees to pay for liability insurance, workers, repairs, etc.
2. Maintain common areas and amenities, like landscaping and fitness center equipment.
3. Hold scheduled meetings to discuss and decide homeowner issues.
4. Inform homeowners of neighborhood happenings and concerns.
5. Arrange special events, such as community-wide garage sales, social evenings, pool parties or block parties.
6. Enforce deed restrictions.
7. Keep the community financially solvent by collecting enough fees to pay for  budgeted maintenance and repairs as well as reserves for future expenses.

Ask usl to show you the HOA records before you buy,  so you’ll know how much your HOA fees will be monthly or annually, and what the fees cover.