Array
Real Estate

5 Things You Need To Know About Homeowners' Associations

This cheat sheet is a must-read for renters and condo dwellers

Shares
Photography: Pexels.com

Whether you live in a rented townhouse, a condominium or any type of planned development property, chances are you’re obligated to join the homeowners' association (HOA) or the group of residents that administers the rules in the community. If you haven’t been a part of one before, we've listed down some things you need to look out for—however, don't forget that rules may vary per developer! 

ADVERTISEMENT - CONTINUE READING BELOW

1. If you file a complaint, don’t expect an immediate response.

Some HOA boards meet as little as twice or thrice a year so minor complaints tend to take the backseat. If the board decides that the issue is an urgent matter, it may require a community vote before holding a hearing—if not, you can always resubmit your request to get the attention of the officers.  

CONTINUE READING BELOW
Recommended Videos

2. They are going to charge several monthly fees.

Fees vary from property to property so before agreeing to anything, remember to ask the following questions:  

  • What is covered by the HOA fee?
  • How often do increases occur, and by how much is it raised?
  • Can you get a printed history of HOA dues by year?
  • Do you need to pay in advance? 

3. Be ready to step-up.

Not all HOAs are active in the community—worse come to worst, no one is interested in maintaining the building, making repairs or proposing improvements. Some developers simply take turns serving as HOA president or randomly appoint someone, so be prepared to serve in this role if you need to. 

ADVERTISEMENT - CONTINUE READING BELOW


4. Being involved has a lot of benefits.

If you ever decide to join the HOA, there are rewards—you get to control what happens in your community, you can help in keeping it safe and maintaining the quality of life in your residence. 

5. Check if the home you want to buy complies with the HOA rules.

ADVERTISEMENT - CONTINUE READING BELOW

Buying into a problematic property can be a huge risk—make sure to check with the previous homeowner if they have any conflicts with the HOA and ask them to make the necessary changes before you move in. 

SOURCES: Investopedia and House Logic

More on Realliving.com.ph

Shares

Read more stories about

Latest Stories

Candle Warmer VS Traditional Candle: What’s the Difference?

Does warming work better than burning a wick?

Small Kitchen Appliances That Will Fit in a Small Kitchen

These are hardworking appliances, too.

8 Air Purifiers You Can Buy for Your Home, Depending on Your Budget

Consider it an investment for your family's good health and well-being.

This Outdoor Cafe in Rizal Has an Amazing View of the Sunset

Its dining area that overlooks the Metro Manila skyline!

Art in the Park 2021 Is Happening This February

Sixty galleries can be viewed online!

Bianca Gonzalez Gives a Sneak Peek of New Home in the South

She's excited about the big kitchen in her next family home!

See How This 16sqm Dining Area Was Converted Into a Home Office

Making do with what you have can go a long way.

Shop IKEA Finds That Go for as Low as P100 at This Local Furniture Sale

Score popular IKEA finds like the Frakta Bag, Alex Drawers, and more!
Load More Stories

Get inspiring design ideas and handy hints.
Subscribe to our newsletter now!