Owning a property or a community association is a great investment. The best part is that it comes with a huge variety of tax deductions, so that much of what the landlord spends on the property can be recouped. Check out these five popular tax deductions for landlords.
Interest related to the property is one of the largest tax deductions for HOA landlords. Not only can they Continue reading
A good property manager makes a good community association. There is so much a property manager can do to improve the neighborhood, but these are some of the five best practices they should implement immediately. Continue reading
HOA and board meetings aren’t the most exciting things in the world, and board members may assume residents want nothing to do with them. However, many residents are interested in understanding how the HOA runs. Unfortunately, however, allowing residents to attend may make it difficult to actually conduct the meeting, which is why many HOAs prohibit residents from attending certain meetings.
The annual meeting is the big one. It’s held once a year, and it’s when many major decisions take place. For example, this is when the new officers are elected. This is also when the board discusses the current state of the community, the goals for the current year and the budget. This is important for residents to hear because they have a right see the big picture of their neighborhood. It’s also important for them to attend because they can discuss their suggestions, comments and concerns. Continue reading
Everyone loves tons of storage. It’s even one of the things people look for when buying a new house. Put your community above the rest by offering community storage areas, so residents have more storage options.
Attracts More Residents
No one wants to move into a house and then realize they have no place to put half of their belongings. Seeing that a neighborhood offers community storage areas is a huge perk. Not only does it allow residents to keep those items they can’t fit in their house/condo, shed or garage, but it also makes it easier to access them. The alternative is to rent a storage unit somewhere in town, but having a unit right in the neighborhood makes it much easier to access. For example, if someone has no place to store their lawnmower, they can easily store it at the community storage area and still use the mower on a regular basis. Continue reading
Just like any storm, a summer storm can cause severe damage to homes and surrounding areas. The downed trees, debris and damaged buildings can leave the neighborhood in disarray. Summer floods can even cause severe water damage. That’s why getting out there and cleaning up after a summer storm is so important.
What Damage Does a Summer Storm Cause?
Depending on the type and severity, summer storms can cause a lot of different damage. Minor damage may include tossed debris, such as limbs and garbage, but the damage may be worse, including broken windows, roof damage, damage to landscaping and much more. Most HOAs will have guidelines regarding how fast this damage needs to be dealt with to ensure the neighborhood is kept looking great. Continue reading
Generally, communities with HOAs require homeowners to pay monthly dues. These dues are used to pay for neighborhood upkeep and many other factors. However, in some cases, an optional cost may appear. For example, the community may decide it wants a community garden, but it isn’t in the budget. In these cases, holding a neighborhood fundraising event is the perfect solution. Check out these great ways to raise money.
Hold Hobby Lessons
Everyone has a hobby they love, so why not let them share that hobby with the neighborhood. Residents can teach others how to do something, such as cooking, knitting or automotive care. The residents can volunteer to teach, and the HOA can charge a fee to attend, and the money can be used for whatever special project they are working on. Continue reading
One of the great reasons to live in a community with a homeowners association is the community events that the HOA coordinates. These events aren’t just about having fun either, there is a greater purpose: they create a community feeling that lasts long after the event is over. So check out these five benefits from organized community events.
Events get the community involved. Some residents may choose to just attend the event, but even that counts as participation. However, other residents may choose to actually help with the event. This gets them connecting with the community on a deeper level. Either way, residents learn to appreciate the neighborhood a little more. Continue reading
The best part of living in a community association is that it is a community. Hosting events is a great way to help promote that community feel. It lets residents get to know each other, and even generates some money for the association.
Throwing a block party for the HOA is a great idea because who doesn’t love a good party? This is a great way to create a fun and relaxed atmosphere that gets people to interact with other residents whom they may not know. It creates a community feeling that continues to stick around even after the party ends. When planning the block party, try to get as many residents as possible to volunteer. For example, if someone in the neighborhood plays in a band, consider asking them to provide the entertainment. Continue reading
HOAs have been around for a long time, and for good reason. They help create a pleasant and safe place to live. The history of homeowners associations starts in the mid-nineteenth century and continues to grow and expand today.
Nineteenth Century Idea
The nineteenth century was an exciting time for the United States. Thanks to the industrial revolution, the nation was shifting from an agricultural society to an industrial society. As a result, people began swarming to the cities to find work, but with so many people, the cities became dirty and noisy, which created an undesirable place in which to live. Continue reading
Whether it’s a community of detached houses or a high rise condo, many HOAs provide their residents with parking spots. In some cases, the residents own them, and in other cases, the association simply allows residents to use them. However, not everyone needs a parking spot, so is it possible to sell or rent an HOA parking spot?
Can HOA Residents Sell Their Parking Spot?
Whether or not residents have the right to sell their parking spot depends on many factors. First, who owns the parking spot? If the HOA is a community of detached single-family houses, the resident probably owns the parking spot. However, if it is a condominium, the resident might use the spot, but the condominium might own it.
In any situation, the resident may or may not be able to rent or sell the spot. If the HOA owns the parking spot, they may allow it to transfer, but they’ll want to protect future owners. If the resident owns the parking spot, the governing documents may still prohibit selling or renting.
Why Do Some Residents Sell Their Parking Spot? Continue reading