When looking for a new place to live, some home seekers look at properties governed by Homeowners Associations (HOA) with some trepidation given their reputation for promoting somewhat restrictive environments.
We have read the news stories about some communities’ extreme rules, like the ones limiting the kind of car and job a homeowner can have. This would make us think that most people run for the hills when presented with the opportunity of buying or renting a property governed by a HOA, but according to a 2018 survey conducted by Zogby Analytics for the Foundation for Community Association Research, a vast majority of residents in this kind of community are satisfied with their Homeowners Associations. When given the option to rate their overall community experience, 85% said it was positive, while 84% said their association’s board members serve the best interests of their communities. When it comes to property managers, 73% of the surveyed residents said they provide support to them and their associations, while 90% supported community association rules because they protect and enhance property values. Only 4% said the rules harm property values.
“These findings objectively refute the unfounded and unsubstantiated myth that the community association model of governance is failing to serve the best interests of Americans who choose to live in common-interest communities”, said the Community Association Institute (CAI) in a statement when releasing the survey this year.
Among the best aspects of living in a Community Association, those surveyed highlighted safety, cleanness and property value.
Community associations also have become popular, according to CAI, because many Americans not only want the services and amenities like snow removal, garbage pickup and pool maintenance provided by their association, but they like the real sense of community.
Nationwide, 63 percent of surveyed homeowners and condominium association members live in single family homes, followed by 17 percent who live in condominiums and 14 percent who live in town homes, according to the survey.
There are over 351,000 homeowner associations in the United States. Collectively, this represents over 40 million households or 53% of the owner-occupied households in America, according to HOA-USA, an organization dedicated to providing resources that promote a better understanding and governance of town home, condominium, and single-family homeowner associations.
Granted, there may be rules and regulations in a HOA that don’t conform with your lifestyle and personality and that is why it is imperative that you know everything about the communities you are considering. That information can be easily accessed through EasyMGT portal, where you will find information of thousands of communities.
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