In most states, homeowner associations (HOAs) have broad powers to enforce the rules and collect fees and assessments. If you don’t follow the rules or pay your monthly fees, they can put a lien on your property and ultimately foreclose.
Having a strong HOA is a double-edged sword. Strict rules can keep the project looking uniform and inviting, thus maintaining its value. The opposite edge is that you may not like the rules, and changing them is not always easy.
To change HOA rules usually entails getting like-minded people together and electing a new board. If you can get a majority of the homeowners to go along with your proposals, great. If not, you can try again next election.
So you don’t end up in a project with rules you don’t like, get a copy from the association secretary and read them over carefully. Also find out what other rules have been proposed but not yet voted on. This will give you a feel for what direction the homeowners in the project are headed.
No comments:
Post a Comment