A Homeowners Association (HOA) is a small governing body for a community that is responsible for maintaining the community and providing important services and amenities. While there are some stories online about HOA’s that abuse their authority or make unreasonable demands, there are many excellent reasons why 55+ communities offer the service of an HOA. We wanted to share a few reasons why we tell our clients that an HOA is still a good idea for the majority of 55+ retirement communities.
PREVENTING DISPUTES THROUGH CLEAR RULES
Neighbors living with an HOA can benefit from having the ground rules of the community clearly set out for them. There are no surprises. There may be extenuating circumstances in some cases, however, residents in a community with an HOA generally don’t have to worry about properties being neglected or neighbors having unsightly objects in their yards.
SIGNIFICANT AMENITIES AND COMMUNITY BENEFITS
The clubhouse, pool, and other amenities in many 55+ communities form one of the most beneficial aspects of these communities. Many residents don’t have the physical ability or finances to install or maintain these amenities, but by paying into an HOA, they provide all of these services without any residents having to lift a finger.
LAWN CARE AND OTHER SERVICES
The services provided by an HOA can add up, but taking each service as a stand alone item, they can all add up quickly. An HOA typically provides services like landscaping or lawn mowing, and in northern climates they can provide the timely service of snow removal. Verify which services your prospective community offers.
MAINTENANCE REMINDERS FROM AN HOA
While an HOA may be considered annoying for requiring residents to take on maintenance projects, the truth is that many homes require regular maintenance and the problems may only grow worse if left unaddressed. Perhaps a reminder from the HOA to address an issue can be annoying at the time, but in the long run many residents benefit from addressing their maintenance issues in a timely manner.
ROUTINE PEST CONTROL IN YOUR COMMUNITY
Many 55+ communities with an HOA offer pest control. An HOA ensures that each home in the association will be routinely cared for and will never be neglected in terms of pest control.
HIGHER PROPERTY VALUES WITH AN HOA
Finally, the top reason that many experts still support an HOA in a 55+ community is the simple fact that routinely maintaining homes and keeping all homeowners on roughly the same page on their appearance keeps property values high. There are certainly some challenges that may come up with an HOA, but overall, the majority of homeowners end up with a secure investment for their retirement years.