Homeowner association fees, also known as HOAs, are frequently associated with community living. They are fees paid by owners of subdivisions, or neighborhoods for various community needs.
Association management in Charlotte, NC, www.cedarmanagementgroup.com will collect monthly fees from homeowners in their, and for their, specific subdivision. The fees go to general maintenance of the property, such as landscaping and upkeep of the grounds in all seasons. This type of landscaping often includes tree pruning, lawn mowing, planting of seasonal flowers or bulbs, and often outdoor lights and other seasonal decorations after Thanksgiving.
HOA management enables people in the community to feel more at home and adds to a sense of community and friendliness.
In addition to landscaping, some HOAs may include property tax, homeowner insurance to cover the outdoor areas of the property, and use of community pools, parks or gathering rooms.
The monthly fees for homeowners associations are generally collected monthly and safeguarded by an appointed or elected treasurer. The treasurer is expected to keep records of monies collected and spent and provide documentation of such at monthly meetings. These meetings are open to the other board members as well as homeowners who live in the community. The expenditure of monies that are not average monthly fees need to be approved by the community and board members.
Common additional expenditures for HOAs may include new paint for outside homes or other community structures, repaving of community parking areas, or the addition or upgrading of benches or pool furniture.
Each HOA is expected to manage its own monies with no outside help. Occasionally, there are outside management groups that oversee the HOA. These are professional homeowner management groups that may oversee several homeowner associations in unrelated communities. A fee is paid to them to oversee each association and help ensure that monies are used for their intended purposes.
Having an HOA in a community is a desirable benefit. It helps ensure that monthly fees are utilized to the benefit of all residents and helps keep the community viable and desirable.