Homeowner's Associations (HOA) are a popular community development structure in the United States. Approximately 74 million people live under an HOA.
There are many benefits to living under an HOA. Important considerations like property management and amenities are taken care of by an HOA board.
However, the benefits that come with an HOA are not free. To live in the community, each household pays HOA dues that cover these benefits and amenities.
Read on to learn about Smyrna, Georgia HOA fees. Explore topics such as the benefits of an HOA property.
What Are the Benefits of HOA Membership?
The goal of any HOA is to create a community worth living in. An HOA board is elected to oversee community development and make it a great place to live.
HOAs set high standards for members of the community. The board wants every household to have a lush and freshly cut lawn. They want clean home exteriors that inspire pride in the community.
HOAs want members to enjoy living in the community. To achieve this, they oversee ambitious construction projects like swimming pools and community halls.
The HOA board also provides general property maintenance services. These services include trash collection, landscaping, power washing, and pool treatment.
HOA members benefit from the services provided. They do not have to worry about cutting their grass, fertilizing it, or vacuuming a pool. Homeowners simply enjoy the amenities and have more free time for their families and careers.
What Do HOA Fees Include?
HOA fees cover the benefits described above. The HOA board is a volunteer organization. The only revenue that they have are the fees collected from HOA households.
This funding pays for the services received by the community's residents. The HOA board creates a budget each year for recurring services required by the community. They spread this cost out to each household within the HOA to raise the required funds.
Each HOA has different services and amenities offered. Some HOAs have a swimming pool, while others do not. If a swimming pool is available, the HOA fees pay for lifeguards, treatment, cleaning supplies, and winterization.
What Is an HOA Assessment?
In addition to paying for recurring expenses, HOAs also perform special assessments. They are sometimes called monthly assessments.
In these situations, the HOA faces an unexpected expense. They do not have the budget for it and need to raise more money.
Special assessments are a normal order of business. Despite their best efforts, the voluntary HOA board cannot anticipate every expense. It is important to understand that special assessment fees fall outside of regular dues.
Your Guide to HOA Dues
You now have an understanding of what HOA dues consist of. Your community cannot operate smoothly without collecting dues.
Your dues ensure that community spaces are clean and functional. They also help establish a high-standard community that looks appealing from the outside. With high demand and resident retention, your community will remain a great place to live.
If you want to learn more about HOA fees, contact us at PMI Terminus to speak with an expert.
