Your Successful Homeowner Association Will Take Work
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Lifestyles of the twenty-first century have radically changed from fifty years ago. The clamor for big lots and single-family houses has been replaced by a demand for condominiums and planned communities (generically called “homeowner associations” or HOAs). The growth of HOAs has been nothing short of phenomenal in the last decade. In many urban areas, upwards of 75 percent of all new residential housing is in the form of a homeowner association. Mixed used HOAs combine residential and commercial together. For instance, retail and office units often occupy street level space while residential units occupy upper floors. |
HOAs are essentially governmental corporations controlled by the members through an elected board of directors. The HOA has authority to make and enforce rules and regulations and to collect HOA fees from the members to support the HOA operation and maintenance responsibilities. Like the IRS, the HOA has significant power to enforce its will through liens and, in extreme cases, foreclosure. When homeowner associations are properly conceived and constructed, they work very well. When they are haphazardly implemented, trouble and discontent follows. The success or failure of an HOA begins at the beginning … with the developer.
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