One of the most important terms in the US real estate sector that one needs to be aware of is the Home Owners Association Rules or the HOA rules as they are commonly known as. These are essentially the set of rules applicable for Home Owners when they buy a property in a development. Hence each development would have its own HOA and HOA rules. One must mandatorily do an in-depth study of these rules for one’s own benefit before arriving at the final decision to buy a property in the development. These rules contain the list of do’s and don’ts that go a long way in governing the lifestyle, privacy and space that one enjoys while one shares your development with others. A new HOA comes into force immediately upon the birth of a new condominium development project. The association is recognized by the law and is powerful enough to enforce the rules that the association has laid down for its members. One is automatically enrolled for a membership to the HOA as soon as one buys a property in the development. Certainly, there is no way to escape the regular membership fee that one needs to pay.
The biggest beneficiaries of the HOA are all the residents of the development. The HOA has the interest of not one but all the residents staying in the development. It is with this collective interest of its members and responsibility towards the members that the HOA rules are formulated. These rules relate to maintenance, day to day living and expected behaviour and living norms for all its members.
The HOA rules extend from disallowing members to do any makeup of the exterior of the condo so as to tamper the uniformity of all its units to whether one is allowed possession of pets in the development. Car parks, children playing area, garbage disposal, and get together are a few other inclusions that you would find a place for themselves in almost all HOA rules.
There are times when one feels that HOA rules are too restrictive and stringent to allow for that personal space and freedom which one would like. It is best to avoid buying a condominium in such a development. The easiest way of knowing how difficult or easy it is to comply with the HOA rules is to speak to the existing manners and take a note of their feedback.
At the heart of each HOA however is the welfare and peaceful co-existence of all the members so that community living can be a memorable and cherished experience. In fact, being a member of a responsible and an active HOA should influence and go a long way in helping your decide whether to buy into the development. By being aware of and complying with HOA rules of your development, you are helping not only yourself but the entire community living in the development. Under estimate strength of the HOA and peril at your own risk.
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