The residents of a neighborhood that’s managed by a homeowners association (HOA) enjoy low-maintenance living and access to exclusive communal amenities. HOAs have become increasingly popular, and almost 80 million Americans live in communities that are overseen by an HOA. Learn more about what an HOA is and how it can improve your quality of life.
What Is a Homeowners Association?
A homeowners association is an organization that handles several aspects of managing a community. The residents of the neighborhood work together to establish guidelines that meet their shared vision and some can serve as members of the HOA.
Elected community board members lead some associations, while others are led by a professional property management company. Common duties of board members or a property manager include, but are not limited to:
- Setting an operational budget
- Paying the association’s bills
- Scheduling maintenance services
- Coordinating community meetings
- Collecting membership fees
What Do Homeowners Association Dues Pay for?
The fees collected by an HOA help fund the construction and maintenance of communal facilities, such as green spaces and swimming pools, as well as other benefits. Sometimes membership dues can even cover utilities, such as water and waste management.
What Are the Advantages of Being Part of an HOA?
Homeowners associations foster a stronger sense of community among members because everyone gets to have their say. Residents also enjoy other key benefits, such as access to amenities that they wouldn’t have otherwise, like tennis courts or a park. Setting a consistent, high standard of living helps to create a more desirable neighborhood and keep property values high.
While many homeowners associations are run by the community, a professional management company can help alleviate the endless responsibilities of board members. HND Realty LLC has extensive experience managing properties and has developed relationships with local contractors, landscapers, and other vendors throughout the Nashville area. Call us at 615-297-7711 or contact our office online to discuss our property management services with a member of our team.