A lot of you there who have experienced property dealings or have thorough knowledge about how residential complexes function, HOA is not new to you. If otherwise, you are less likely to know what HOA is and how it functions. So here we are going to see the role of HOA in the residential areas and the functionality of HOA.
HOA stands for Home Owners’ Association. HOA comes as a part of planned developments. The house owners are obligated to be a part of this association. To get a clear idea, let us see the housing plans that require an owner’s participation in such association. The property that you have purchased can either be a condominium, a leased land property or a gated community. These are ones that are known as planned developments.
These associations take the responsibility of providing amenities like swimming pool, clubs, party halls, fitness rooms, parking garages and much more. They help in maintaining the quality of life.
The HOA and its member function together on a contract basis. Understand the terms listed in that contract and make sure you follow them. It is the obligation of the members to follow the rules and regulations as stated by the HOA. Also, a periodical membership fee is collected to take care of the requirements of the HOA.
The association takes care of maintaining the facilities it provides. With the help of the membership fee and the reserves maintained by the association, they keep developing the facilities to meet the demands of the residents.
HOA conducts periodical meetings and family gatherings. This a great chance to know the fellow residents and the members of the association.
The association keeps improving the look of the community. The garden is maintained with care. Since most of these associations are a part of the gated community, it strictly prohibits the intrusion of trespassers. So inmates of the community can enjoy privacy in absolute seclusion.