Kim Abbott

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HOAs: What Do Buyers Need To Know?

August 11, 2021 by Kim Abbott

There are many factors that buyers need to consider when they are evaluating a potential property. Sometimes, buyers run across properties that have to deal with something called a Homeowners’ Association, or HOA. What Do HOAs Do? An HOA ensures that communities look their best and function well. While HOAs were unusual several decades ago, they are becoming more common. HOAs are typically governed by a board made up of people living in the neighborhood. By ensuring properties look their best, property values could remain high; however, there could also be restrictive covenants in … [Read more...]

Filed Under: Real Estate Tagged With: HOA, HOA Cost, Real Estate

Condo Damage Caused By Contractors Hired By The HOA: Who Pays?

August 4, 2020 by Kim Abbott

For those who live in a condo, they know that there are numerous advantages that come with this living arrangement. Living in a condo means that other people are going to be responsible for landscaping and common areas while homeowners are still able to build equity in the home. At the same time, the HOA has quite a bit of power and one of the biggest concerns that people might have involves who pays for the damage in the event that something in the building has been damaged. There are a few important points to keep in mind. Roof Replacement Contractors Sometimes, the HOA might hire … [Read more...]

Filed Under: Real Estate Tagged With: Contractors, HOA, Real Estate

Four Common Headaches Of A Homeowners Association

November 13, 2019 by Kim Abbott

When you are looking to purchase a home, you might hear a lot about something called a homeowners association, often shortened to HOA. While there are benefits of having an HOA in a living community, these benefits also have their drawbacks. There are a few common headaches that people often experience when they move into a community that has an HOA. Anticipating these problems ahead of time can help everyone prepare for what they might encounter. The Maintenance In The Common Area Whether you are living in a condo or in a neighborhood, the HOA is supposed to maintain the community common … [Read more...]

Filed Under: Real Estate Tagged With: HOA, Real Estate, Rules and Regulations

HOA : The Role Of Homeowners Associations In Housing Communities

November 5, 2012 by Kim Abbott

Homeowners associations (HOA) are legal corporations formed by a real estate developer to market, to manage, and to sell homes and lots in a residential subdivision. They're most commonly formed for condominiums and planned urban developments (PUDs), a category which includes suburban communities.  HOA Articles of Incorporation typically grant developers privileged voting rights in governing the association during its infancy, while providing the means for the developer to exit financial and legal responsibility for the organization, transferring ownership to the homeowners of the … [Read more...]

Filed Under: Real Estate Definitions Tagged With: Condo, HOA, PUD

Kim Abbott

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