A homeowners association, or HOA, is the governing body of an individual community of homes, condos, and apartments. Typically structured as non-profit organizations, HOAs are required to maintain the safety and quality of life in their community through annual budgets and monthly general membership meetings. When run properly, HOAs can be incredibly successful—but they can also be a source of contention if they lack proper management and oversight from start to finish. That’s where phoenix hoa management companies can help.
What is an HOA?
An HOA, or Homeowner’s Association, is any organization that governs the local and day-to-day functioning of a residential neighborhood. Typically governed by articles of incorporation and bylaws, an HOA serves as the eyes and ears for what is happening in the community, sets down specific standards and rules for all homeowners (called covenants), and sets up a legal obligation in which all homeowners are required to maintain their homes according to the covenants established by the HOA.
Why does having an HOA make sense?
There are many benefits to having an HOA, which is why they are becoming more and more common. One of the biggest reasons why HOAs are so successful is because they can help enforce rules that the property owners themselves cannot or won’t enforce on their own. In many instances, HOAs have done things like installing playgrounds, painting buildings, enforcing leash laws for animals, and making public areas more clean and safe for families and children who visit.
How to start an HOA?
There are many ways you can create an HOA; starting one from scratch may be the best bet. First, take some time to sit down and think about what you want your community to represent. It’s important that you’re setting up guidelines that promote positive values in your area. Be sure also to define your responsibilities as both a member of the association and as an owner of property within the development. Once you have established these basics, enlist help!
The key to an HOA’s success is in its management of it. To help you make the best decision on who will be in charge of your HOA management, please refer to the following factors: do they have experience, can they devote adequate time for your needs, are they able to put in some occasional overtime, are they insured and licensed if required by law? Once you’ve answered these questions and found the perfect property manager for your community, everything else should run smoothly.