A homeowners association is an organization within a residential community that manages the homes. Members must sign and follow the rules in certain documents and keep their homes up to high-quality standards. In Florida, there are a number of advantages and disadvantages of belonging to a homeowner association.
Terms and conditions
An HOA member has to read, sign and agree to specific documents, such as bylaws, Articles of Incorporation and Covenants, Conditions and Restrictions known as CC&Rs. Bylaws outline the rules that every member of a governing entity has to follow. Occasionally, the board of directors will make changes to these rules that affect all of the residents.
The Articles of Incorporation is a document that defines the existence and location of the incorporated company. The CC&Rs outline the allowances and restrictions that are tied to owning a property.
The purpose of the HOA’s rules is to promote ideal values and practices within a residential community. Members are required to maintain the attractive exteriors of their homes or face a penalty. This includes making necessary repairs and renovations to make it easier to live in the home and enhance the community’s quality of living.
The homeowner association sets restrictions as to what owners can do to their own homes. They decide zoning and how to allocate land use, set levels of taxation and enforce property maintenance rules for the entire community. Overall, a small group in the board of directors makes decisions that affect the entire community.
The general purpose of a HOA
The many different rules set by a homeowner association are made for the homeowners’ best interests. Ideally, every rule protects them from privacy invasions, ensures their physical safety and protects the value of their homes. The purpose of the HOA is to enhance the quality of living of each individual. Most of the rules conform to common sense and are easy for most owners to accept and follow.