Homeowners associations (HOAs) sometimes get a bad rep. But it's important to understand their core purpose before making assumptions. At the heart of it all, the purpose of an HOA is to protect the common interests of the community within a certain neighborhood.
An HOA board operates like any self-governing body and has the best interests of the community at heart. If you've heard stories about having to obey rules and laws, it's nowhere as stringent as that. The simple purpose of an HOA is to create guidelines that homeowners live by to create a better community for everyone.
Learn more about the different responsibilities of an HOA community in Fort Lauderdale.
How Does a Homeowners Association Work?
An HOA comprises a board of directors and members who manage the association, community affairs, and homeowner queries. When you purchase a property within an HOA community, you become an HOA member by default.
When you belong to an HOA, you pay fees (either monthly or annually) for the maintenance of your property. As well as the amenities you have access to within your community.
As a member of the HOA, it is your right to vote for an appropriate board of directors. The board generally consists of volunteers who operate the HOA's daily operations. These board members also establish and implement the guidelines within the community.
What Are the Duties of an HOA Board?
An HOA board consists of a president, vice president, secretary, and treasurer, all elected by members of the community. The board sets and enforces certain guidelines within the HOA that protect your property and investment.
Let's take a closer look at the duties and responsibilities of an HOA board and how they help to ensure community satisfaction:
- They create covenants, conditions, and restrictions (CC&Rs) - this is basically a set of guidelines on how members live within an HOA community
- The board ensures all regulations comply with federal, state, and local laws
- They manage all HOA finances. This includes all the fees each member pays for the management and maintenance of their properties, activities, fundraisers, and charity events
- They impose fines on homeowners who violate certain HOA regulations
- HOA board members handle and process all documentation that relates to new membership, as well as legal, and official documents
- It's the board's responsibility to manage, resolve, and prevent conflicts that arise within the community. This ensures everyone's safety and a harmonious way of life
- The HOA board is in charge of all maintenance and upgrading of shared common areas and amenities within the community
In addition to all of the above, the HOA board can create new regulations of their own. However, they can only enforce them if all HOA members vote and approve them. Before you buy a property within an HOA, make sure you read through the CC&Rs document to gauge whether the community is the right fit for you.
Brush Up on Your HOA Knowledge, Here
At the end of the day, the role and purpose of an HOA board is to keep your local community developing and flourishing. Owning property within a homeowners association comes with a plethora of perks.
So, if you want to learn more, take some time to explore the rest of this blog and brush up on your knowledge of HOA communities, and what you can expect.
