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Home 9 Condominium and Planned Community Practice 9 Setting up a homeowners association protects property values

Setting up a homeowners association protects property values

by | Sep 9, 2021 | Condominium and Planned Community Practice, Real Estate Practice

Homeowners associations (HOAs) sometimes get a bad rap for having too many rules or being overly picky about how they enforce them. But HOAs done right are actually a huge benefit to a community.

If you are considering setting up a homeowners association for your properties or community, it’s a good idea to understand what that does for you. A homeowners association does protect property values.

What are the positives of an HOA?

Setting up a homeowners association makes sure that you can keep your properties and community looking as good as possible. With an HOA, you can:

  • Enforce upkeep around the properties, such as by having rules for the external appearance of a home or yard
  • Include amenities that improve the value of the properties, such as designing a clubhouse or pool for the community
  • Maintain the neighborhood by taking care of common areas, like common areas of landscaping or common amenities. With those areas in good condition, the whole community may appear more attractive and tied together

When people live in an HOA, it’s more likely that they will keep up on their properties and maintenance, because the whole community does. The rules and guidelines enforce doing so, but with everyone understanding the same requirements, the whole community will be more in line and work together to keep the community looking good. 

An HOA may improve the value of your community by building connections with local contractors and service providers, ensuring that the community looks its best all the time and providing access to amenities that may not be available to homeowners without as much financial support from their communities. 

If there are any people in disagreement with your HOA and disputes arise, remember to turn to your contract to determine what to do next. If a dispute isn’t easily resolved, then you may need to take legal action.