Archive for the ‘Company’ Category

• How Homeowner Associations Work Part (3)

  Date: 2011.12.12 | Category: Company | Response: 0

  No one likes to incur the wrath of their neighbors by increasing fees, so the pressure is intense to keep them low. As a result, a weak board will often not implement good financial policies in order to keep fees as low as possible in the short term. Additionally, HOAs can foreclose on your condo if you don’t pay your monthly fees. How many months you can go in arrears before the association initiates a legal foreclosure process depends on the bylaws and the HOA’s resolve. Read the rest of this entry »

• How Homeowner Associations Work Part (2)

  Date: 2011.12.08 | Category: Company | Response: 0

  Get too restrictive and people may not buy their units; get too loose and a few slovenly homeowners can lower property values for all. The final top layer of restrictions are the rules the HOA passes by the will of the majority of its members, such as how long you can keep your garage door up or leave your empty garbage can on the curb, what pets are allowed, and whether you can keep that rusty ‘49 Chevy body on your front lawn. Read the rest of this entry »

• How Homeowner Associations Work?

  Date: 2011.12.04 | Category: Company | Response: 0

  A homeowners association (HOA) is typically a nonprofit corporation with articles of incorporation that define the association’s purpose and powers. These articles of incorporation are filed with the state. The members of an HOA elect a board of directors to govern the affairs of the project subject to its bylaws, which contain the basic governing rules by which it operates. Read the rest of this entry »