What is a Homeowners Association?
If you have recently been told that a homeowners association plans to take over the management of the properties where you live, you will no doubt be curious about what this actually is, and how it will effect your way of life.
I have been living here in Arizona for over 10 years and throughout that time I have seen my fair share of Phoenix HOA management companies come and go. My experience with these businesses has been incredibly positive, so I wanted to use this experience and break down what a homeowners association is, and what you can expect from one.
What is a HOA?
In a nutshell, a homeowners association is a private company which is hired by the developer of properties, to market, manage and sell remaining properties in a complex. In some cases a HOA will simply take over the management of a collection of properties, but in some cases they will have full ownership of the properties and the management of sold properties, transferred to them by the developer.
Benefits of Homeowners Associations
In my experience I would say that a HOA management company will bring about a great deal many more plusses than negatives, and this is why they are trusted. From a developer point of view it makes much more sense to outsource this aspect of the business to experts, who can better mange the property.
For a tenant or a resident of these properties, here are just a few of the improvements that you can count on.
Maintenance of the ground around your property are very often poorly managed and lack attention, not so when you have a HOA looking after the property. In my experience I have been able to see the money which I pay each month, when I look around the complex around my apartment, grass cut, walls painted, hedges trimmed and damages fixed promptly.
As a renter you rely on the association to help you with repairs when something goes wrong in the home, yet this can often take an age. With a HOA company however, most offer 24/7 repairs, which will see them at the very least come to view your issue, even if they can’t repair it straight away. This is one of the biggest positives that I have found with an HOA, and it gives you the peace of mind as a tenant.
We all know that there are people who live near us that aren’t paying what they should be when it comes to their monthly maintenance, and far too many times they are allowed to get away with this. My experience of a homeowners association however has been that they are firm with those who don’t pay, and debts get settled pretty quickly after they have got started, making it fair for everyone.
So there you have it, if you ahem a homeowners association coming to take over, don’t worry, things could very well improve.