What to Know About HOA rules

When buying into a Home Owners Association (HOA) community, it’s important to take note of the rules that may limit what you can do to your property.  HOA guidelines can protect the value of your property by ensuring your neighbor doesn’t fix cars in his driveway or paint his house magenta, but it could also mean that the cute mail box your kids might give you for Christmas may not fit within the HOA rules. Here are some important points to take note of if you’re in a HOA community, or considering joining one!
 

• From the proceeds of your monthly dues, your HOA may create a playground, maintain a pool, provide upkeep and activities at a clubhouse.  They will also arrange for grass cutting, window washing and/or snow removal.

• When you buy into a HOA community, you’re asked to sign an agreement that lists the HOA rules. Other than mounting a campaign and going to a HOA meeting to protest a rule, you have little recourse but to abide by the rules outlined on the HOA agreement you signed.

• Get familiar with the covenants and rules of your HOA agreement. Consult it before you start projects like painting your house, adding a deck, posting a sign, opening a home business, or erecting a fence. Your HOA may have rules about parking RVs in your driveway or renting out your condo while you vacation. Check before you act and save yourself verbal or financial repercussions!

• Good, conscientious HOAs provide a standard for your subdivision, development, or condominium complex that protects your investment and provides attractive features. Unfortunately some HOAs get heavy handed and go beyond the parameters of their HOA guidelines. When this occurs, it is up to homeowners to act. Get to know your HOA well and make sure they are up to their standards!