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-560-wide.png "What is a Homeowner Association?")
A homeowners’ association (HOA) is a type of organization that helps to manage a community of homes. HOAs are usually found in planned developments or subdivisions, and they typically have rules that residents must follow in order to maintain the quality of the community. These rules may cover everything from what type of landscaping is allowed to how often trash must be collected.
The Structure of HOA
HOA membership is mandatory for all property owners. HOAs are typically governed by the board of directors that are elected by the residents through the annual election process. The board is responsible for making decisions about the community, such as maintaining common areas, and setting and collecting HOA dues.
Advantages of Living in a HOA Community
One of the main advantages of living in a community with a homeowners’ association is that it can help preserve the investment of homeowners. This is because HOAs often have rules and regulations in place that ensure homes are well-maintained and that the community itself is attractive. Additionally, HOAs can provide amenities that individual homeowners would not be able to afford on their own, such as swimming pools or tennis courts.
Disadvantages of Living in a HOA Community
The flip side of living in a community with a homeowners’ association is that residents must comply with the rules and regulations set forth by the HOA. These rules can be restrictive, and they may not be to everyone’s taste. Additionally, HOAs often charge monthly or annual fees, which can be a financial burden for some homeowners. Finally, because HOAs are run by volunteers, they may not always be efficient or effective in addressing community issues.
What are Homeowners’ Association fees and what are they typically used for
Homeowners’ association fees are typically used to cover the costs of maintaining the community, such as paying for landscaping, trash removal, and security. These fees can also be used to fund amenities like skating rings, a community pool, or even access to a private lake. In some cases, a portion of the HOA fees may be set aside in a reserve fund to cover future expenses, such as major repairs or replacements.
Homeowners’ association fees can vary depending on the size and amenities of the community. For example, in Summerside, the fee can range anywhere from $400 - $1000 a month depending on the location of the property. The Hills at Charlesworth charged a flat fee of $200 per year (in 2017) for all registered residential lots regardless of the stage of completion of the home.
What to do when buying a home in the homeowners’ association neighborhood
When buying a home in a community with a homeowners’ association, it is important to be aware of the rules and regulations that the HOA has in place. These rules may dictate everything from what type of landscaping is allowed to how often trash must be collected. It is also important to be aware of the HOA fees, as these can add up over time. Finally, it is a good idea to talk to current and past residents of the community to get their opinion on living in an HOA-regulated environment.
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The legal aspect of the homeowners association
Homeowners’ associations are regulated by provincial legislation, which sets out the rules and regulations that HOAs must follow. HOAs are typically registered as an encumbrance on the title of each property. This can impact the sale of a property if the fees are not paid.
In conclusion, living in a community with a homeowners’ association has both its pros and cons. It is important to be aware of the rules and regulations that the HOA has in place, as well as the monthly or annual fees. However, HOAs can provide amenities and help to protect the property value. Ultimately, it is up to the individual homeowner to decide whether the advantages of living in an HOA-regulated community outweigh the disadvantages.
A list of HOA communities in and around Edmonton
There is no list containing all the HOAs in the Greater Edmonton Area. There are at least 36 HOA communities in the area.