Saturday, February 20, 2010

There are No Stupid Questions

There are no stupid questions…

When people buy a home in a neighborhood that is governed by a homeowners association (HOA), there is always a slew of questions that come up…And that is okay, Frankly, we expect them and are shocked when people don’t have questions, If you are the type that feels uncomfortable asking questions – we thought we’d answer some of the basics for you here!

What is a HOA?

A homeowners' association (HOA) is an organization created for the purpose of developing and managing homes. Most homeowner associations are incorporated, and are subject to state statutes that govern non-profit corporations and homeowner associations. State oversight of homeowner associations is minimal, and mainly takes the form of laws, which are inconsistent from state to state. An HOA provides people with shared neighborhood values, an opportunity to enforce regulations, consistent with overarching statutory constraints, to achieve a community representative of such values. The HOA is financially supported by all members of the homeowners association. Membership is both automatic and mandatory.

Why do I have to pay Association Fees and what do they cover?

Association fees are used by the HOA to pay for any costs that are incurred to common areas. These common areas can vary from association to association – but they can be pools, courtyards, parks, gates, playground, equipment and many many more items. Many homeowners' associations include management of a development's recreational amenities, maintained for exclusive use of its members. This can allow an individual homeowner access to a maintained pool, clubhouse, gym, tennis court or walking trail that they may not be able to otherwise afford to maintain on their own.. Talk to your association leaders and management about what your money is actually going toward… But yep – you gotta pay those fees…

What is a "managing agent"?

The managing agent is a person, or more likely, a company hired by the HOA’s Board of Directors to the day-to-day operation of the Association. You didn’t think the HOA is doing the lawn mowing and fence painting themselves, did you? They would, but they are home-owners too and they have day jobs as well. So to make sure that everything runs smoothly and swiftly, they hire the managing agent to implement the policies and decisions that the Association has decide upon. Here at Kuester Management Group, that is OUR role. It is our job to serve any Association, big or small, as a Managing Agent.

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