HGTV wrote a great article about the role of HOA’s in a community. Some of the best advice they give is to research your HOA before buying into a development that has one. Look into issues like:
– What things are being discussed at meetings?
– Are they saving for the future?
– What rules are in the CC&R’s (Covenants, Conditions, and Restrictions) that I may have issues with down the road?
– What amenities am I getting for the dues? (Note this question is NOT simply “what are the dues” as that won’t always tell you what you need to know. Many people complain that their neighborhood has higher dues than another but fail to realize the benefits they’re receiving that the other neighborhood isn’t.)
…This is a new one! The deer population in a Tellico Village neighborhood has gotten out of hand, and some residents have agreed to allow “sharpshooters” to come in and help control the overpopulation. What are your thoughts on this?
Yet another reason to have your financials handled and reviewed regularly by trustworthy and responsible people. Homeowners and Board members should scrutinize bank statements and other financial records each month and ask questions when things don’t make sense. You can’t be too careful when it comes to handling the hard-earned money from your neighbors. Don’t take a chance and risk this happening to you!