Improve quality of life and organization with HOA managed property

Homeowner Association (HOA) fees seem to be going up and never going down. The cost of living continues to rise.

Ever-increasing bills can be stressful, especially for families with children at home. These days, most people struggle to make ends meet. There is always something more to buy, more to pay, and more expenses that need to be prioritized.

The HOA may not seem worth the expense at first glance. However, according to the 2020 Owner Satisfaction Survey, homeowners can reap many benefits from their HOA. Read on to find out why a HOA-managed property can improve your community’s quality of life and organization.

What does an HOA do?

An HOA, sometimes called a Community Owner Association (COA), is an organization of people living in a community. They share ownership of common property in a neighborhood. It is usually made up of landowners in a specific geographic region.

The benefit of being a member of the HOA

A Research conducted in 2019 by microeconomist Clark and Freedman spurred the rise of HOA-managed properties. It shows that HOA-managed properties are more likely to be occupied than non-HOAs. In other investigation65.1% of homes in 2020 are part of an HO, an increase of 5.5% from 2019.

With increasing population, urbanization and global warming, there has been an increased need for more sustainable living. The government is also taking the initiative to make housing more sustainable. One of these initiatives is to support management of community associations services.

Are you still on the HOA fence? Here are some benefits of an HOA:

1. Increased sustainability by reducing waste and increasing recycling

The main responsibility of the HOA is to maintain the common areas of the neighborhood, such as parks, swimming pools, sidewalks and roads. They also manage landscaping and other services provided to homeowners in their community.

2. Lower maintenance costs

HOA management services have been around for a while. However, the HOA industry is booming due to lower maintenance costs.

Instead of hiring another company to do it, HOAs are already keeping a community safe and beautiful. They provide lawn maintenance, snow removal and garbage collection. Some associations are responsible for the maintenance of common areas such as parks, streets, sidewalks and recreational facilities.

3. Increased sense of community

Living in an HOA allows you to make friends and meet people through shared events, social media pages, and local community meetings. This greatly facilitates this first integration into the neighborhood.

Social interaction is a crucial part of culture. This helps people form strong relationships, which in turn creates a sense of community.

4. Increase in appraisal value

The HOA industry is expected to grow, so many people are looking for these services. The organization was started by a group wanting to improve their neighborhood, beautify and regulate safety, and attract many potential owners. Increase unit demand and price.

5. Better quality of life with inclusive utility

HOAs have more inclusive utilities, such as public transportation, electricity, water, recycling services, and internet access. They also provide other services like security patrols and garbage collection. The HOA can also maintain communal facilities such as swimming pools, tennis courts, and pavilions.

6. Lower insurance rates

One of the most popular benefits of joining an HOA is that it allows you to take advantage of lower insurance rates. Indeed, HOAs often have agreements with insurers, allowing members to obtain reduced rates. Some HOA management services, such as Charlotte HOA Management Servicesoffer rehabilitation insurance in the event of disaster and fire.

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