You’ll find a lot of Homeowners Associations throughout FL. Many people prefer the benefits they afford their residents. You may wonder what a homeowners association is and what their goals are. You may also want to know what voting powers are required to change things within the homeowners associations in FL.
What is a Homeowners Association in FL?
A Homeowners Association consists of an organization within a planned community, subdivision or condominium complex. They create and enforce rules to help keep the community looking nice. In some areas, they may work as the most local form of government. They also share costs on things like community pools and private security. There’s a monthly fee for the HOA that property owners must pay. Fees range within the hundreds but can go much higher depending on the property and the amenities the community provides.
The Structure of a Homeowners Association
A Homeowners Association is governed by a Board of Directors. Board members are typically either appointed or elected. Some boards have a mixture of the two. The developer puts the initial board in place until a certain number of homes are sold. The board makes the majority of decisions for the association. They keep track of the HOA’s finances and decide how the money’s spent. The board members are legally responsible to everyone within the homeowner’s association. Sometimes the homeowners association’s use management companies to take care of the duties. These companies may handle the finances, manage everything, or take care of on-site matters
The Goals of an HOA
Homeowners Associations in FL have several different goals. They range from ensuring rights to raising property value.
Homeowners associations in FL allows each homeowner a voice in the community. Typically each homeowner in the association votes on any major decision. If you don’t like a potential change to the community, you can rally support among homeowners to stop it. Every HOA puts together governing documents, which outlines all homeowner’s rights.
Homeowners Associations in FL typically create amenities that the homeowner may not afford on his or her own. The pulled resources of multiple to many homeowners allow for things like private security, trash picks up, a community pool or gym, and many other potential amenities. All homeowners in the HOA can take advantage of these amenities as long as they pay their dues. The dues also go towards the upkeep of the amenities. Instead of one person paying out for pool problems, the pooled resources from the dues pay for it. That way no one faces the burden of a huge repair.
Increased Property Value
The above amenities provided by homeowner association in FL can raise property values. Things like private security and community pools can make homes more attractive to potential buyers. Homeowners Associations put rules in place to keep all homes looking good. This may seem like a small thing, but a well-maintained neighborhood is vital to keeping property values up. Part of what goes into the value of your property is the value of your neighbor’s property. If your neighbor doesn’t maintain his or her property, your property value goes down. You can rest comfortably knowing that the HOA will ensure your neighbor’s home always looks its best.
Keep Up Community Standards
To keep the community looking nice HOA’s enforce rules. The rules vary from community to community, so you’ll need to look at a specific HOA’s documents to find out their rules. Typically the rules include things like keeping up with landscaping, and things that you can and can’t do to your home. Some HOA’s may not let you paint your home a certain color as they want things to look a specific way. HOA’s use fines to enforce the community rules. Some HOA’s hand out stiff fines to ensure residents comply with the rules. In extreme situations, they may take a resident to court to enforce the rules.
What are the Voting Powers of Homeowners Associations in FL?
The voting powers differ from one Homeowners Association to another. It’s important to read your HOA’s governing documents to get an understanding of how your HOA works. If you want a more in-depth understanding of HOA’s look at Florida statutes chapter 720. Chapter 720 covers everything related to Homeowners Associations in Florida. It’s important to keep in mind though, that Florida doesn’t currently have an enforcement agency for HOA’s. Elections and recalls, however, get enforced by the department of business and professional regulations.
Buying a home within a Homeowners Association in FL can be a great decision. You’ll live in a clean, good-looking neighborhood with amenities you may not find in other places. Many HOA’s keep dues low, so you don’t need to break the bank to live there. If you’re looking to find a home within an HOA click here. You’ll find a lot of Homeowners Associations throughout FL. Many people prefer the benefits they afford their residents. You may wonder what a homeowners association is and what their goals are. You may also want to know what voting powers are required to change things within the homeowner’s associations in FL.