If you’re unfamiliar with your homeowner’s association, or HOA, it may require a bit of explanation as to why it exists and what it can do for you. To gain a better understanding of how you can benefit every day from your HOA, let’s look at 5 things your HOA is typically responsible for in Oklahoma City.
One of the most obvious things your HOA covers for its residents is keeping the common areas of your neighborhood clean and in working shape.
Any open facilities, such as swimming pools, ballrooms, and fitness centers, are part of what you’re paying your HOA to keep operating day in and day out. Road maintenance, litter pickup, and landscaping in common areas are also covered by the HOA.
The additional amenities provided under an HOA can often be a big incentive for potential residents, and taking advantage of these locations is all thanks to your local HOA.
Enforcing Neighborhood Regulations
Any neighborhood under the purview of an HOA comes equipped with a set of existing rules and regulations that were thought up, voted on, and put into practice when the HOA was first formed.
These rules were originally created to assemble a baseline assumption of proper behavior amongst residents, while also cultivating a particular neighborhood culture that is desired by its residents. Some of the topics covered by these rules could include parking, pets, trash pickup schedules, and stylistic choices on the exterior of your home.
When you first begin looking at properties in an HOA, you are provided information that details the rules and regulations enforced by your HOA, and you should certainly familiarize yourself with them to have a better understanding of the behavior and culture expected in the neighborhood.
Occasionally, there will be disputes that arise between residents. To help resolve these complaints in a fair and timely manner, the HOA is the perfect body to act as an impartial mediator.
The HOA will begin by investigating the complaint and discussing everything with any involved parties. The next step is for the HOA to take into account the details of any regulations involved with a given complaint, and do their best to fairly bring the complaint to a conclusion in line with those regulations.
This style of dealing with complaints also gives residents the opportunity to review regulations on a regular basis.
To accomplish all of these things, the HOA collects dues from its members on a schedule determined by the HOA and its residents.
The schedule and amount due is another piece of information given to you when looking at HOA properties. The dues you pay into your HOA are managed by the treasurer of the HOA, which is a position normally filled through an election in which the residents vote for their chosen candidate.
Holding Routine Meetings
Every fiscal year, your HOA will put out a meeting schedule that will include dates, times, and locations for any meetings.
Oftentimes, HOA meetings are optional, but resident attendance is highly encouraged. These meetings exist first and foremost to keep the lines of communication in the HOA between both the board and its residents as well as between residents as open and clear as can be.
HOA meetings are the forum to discuss changes to any HOA rules, keep up-to-date on any neighborhood goings-on, and voice concerns residents may have or can foresee down the road.
Help Understanding Things Your HOA Is Responsible for in Oklahoma City
If you’re considering purchasing a home in an HOA, you need help learning all the ins and outs! Our professional team can help you understand all the things your HOA is responsible for, so call today at (405) 521-1817!