The Things That Every HOA Has in Common

There are certain things that bind every homeowner’s association (HOA) with each other and are common in nearly every organization. A homeowner’s association is an organization that defines rules, regulations, and expectations for the property owners in the applicable neighborhood or community, complete with bylaws, insurance, and committees that meet and vote on changes.

HOA Commonality

Operating an HOA in a neighborhood means monitoring for compliance. Also, it includes maintaining adequate HOA insurance coverage and ensuring ongoing safety and consistency throughout the community.

A Brief History Of HOAs

The history of the homeowner’s association in the United States dates back to the 1960s, when they were formed in an effort for land developers to market and sell the homes, they were building more efficiently. Throughout the 1960s, these organizations became a fixture when suburban developments increased exponentially and brought HOA management. Additionally, the number of HOAs across the country continues to grow as new developments expand and associations form. Whenever you are in the main residential neighborhood, there is a chance it will have HOA representation.

Common Features of HOAs

The features of homeowner’s associations can vary widely depending upon the type of community constructed, but there are some similarities and things that tend to be consistent across all HOAs. Every HOA establishes a transparent system of property rights for homeowners as well as for the association’s community areas. They define the rules necessary for enhancing the community’s development and protect the association and the community with HOA insurance in case of injuries or losses in the common areas.

Neighborhoods with an HOA typically have higher property values because the regulations and requirements established by the association ensure a quality, safe environment that is cared for and maintained meticulously. The upkeep, maintenance, and aesthetics provide higher property values over time, making a home in an HOA community an investment that will continue to appreciate.

What HOAs All Have in Common

As you explore communities with HOAs, you will find commonalities throughout. Understanding what all HOAs have in common can help you better understand and value these associations.

All HOAs require membership if you buy a home in the community. Mandatory membership is part of what ensures that the community is consistent throughout. All residents are required to join the HOA, pay their HOA fees, and abide by the regulations.

Every HOA has clearly published bylaws and documents. These define the rules and regulations of living in the community and permit the HOA to levy penalties and fines for non-compliance.

HOAs can place a lien on properties within the community if the owners fail to comply with regulations. It allows the HOA to ultimately take ownership and possession of a property for failure to adhere to the community rules.

An HOA-based community is a great choice when you’re looking for a well-kept community, protected with HOA insurance and managed to ensure its value.

About Kevin Davis Insurance Services

For over 35 years, Kevin Davis Insurance Services has built an impressive reputation as a strong wholesale broker offering insurance products for the community association industry. Our president Kevin Davis and his team take pride in offering committed services to the community association market and providing them with unparalleled access to high-quality coverage, competitive premiums, superior markets, and detailed customer service. To learn more about the coverage we offer, contact us toll-free at (855)-790-7393 to speak with one of our representatives.