Wednesday, February 4, 2009

Pros and Cons of a Managed Community

Question:  To live in a managed community or not in or near Charlotte, NC?  

Dear Margie-

In many communities and housing tracts, there are some restrictions. When there are none, you can end up in a situation where several homes are not cared for and the value of nearby properties is adversely affected. In such communities, there is no one to mediate complaints or look out for the common interests of all homeowners.

There are distinct advantages to a managed community, when the management is done well. You have a professional service to assure work is done efficiently and cost-effectively. A management company can mediate complaints and controversies and care for many issues homeowners prefer not to handle.

While there are fees in managed communities, the fees should be fairly assessed based on the amount and type of service offered. You will want to read the contract to see what the management company handles. Is the fee fair for services offered?

Be sure to read a copy of the Contract, the Bylaws, the Budget and the Current Financial Statements to make sure the community is on solid ground. Find out whether there are scheduled assessment increases and whether there are improvements planned that will bring about an assessment. Determine whether the HOA Management Company is responsive to the Homeowners’ Association.

Although this may seem like a lot to think about, if you select a home in a managed community, be sure the management is handled by a responsible and responsive professional company with a solid history of happy association homeowners.

In additon to providing many other real estate services, Kuester is a Homeowners Association (HOA) management company here in Charlotte, NC.

We would be delighted to work with you and your husband to find the perfect home that suits your needs, tastes and budget. We pride ourselves in helping families and business throughout the Carolinas since 1975.   Please call us at 1 (800) 782-2453.

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