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Nearly 60% of HOA members see the advantages of living in this kind of community. They appreciate how an HOA makes a healthy neighborhood.
But that doesn't just happen on its own. There's a lot of work involved in running a successful HOA. And that's why HOA fees are so important. They play a key role in helping the HOA thrive and continue to make improvements.
Paying to be a part of a community can feel foreign to some homeowners. Especially when they haven't had to before. If that's you, check out this guide for everything you need to know about HOA fees.
1. Property Maintenance
The main reason for San Antonio HOA fees is to keep up with maintenance in the neighborhood. Many HOA neighborhoods have common areas that can be used by everyone who lives there. Keeping them in shape and making upgrades when necessary is covered by these fees.
But this maintenance also includes the sidewalks and parking lots as well. They can be used to cover landscaping, including on the areas near the sidewalks.
HOA managers can also schedule more seasonal jobs like snow removal in the winter. Anything that can be done to make your community look and function better are key uses for HOA fees.
2. Neighborhood Insurance
For most people, homeowners insurance is a must. There's no way to live in space without knowing you're covered in case of an emergency. Communal buildings need this kind of coverage as well.
HOA management will need to select an insurance policy that best fits. And then the HOA fees can be used to help pay for that policy. This is especially important when you live in an area with extreme weather where you may need to do more repairs often.
3. Keeps Amenities Available
One of the biggest perks of living in an HOA is the amenities available to you. Whether that be a community center, park, gym, or pool. The residents have access to these right in their own backyards!
HOA fees will help to keep those things available to everyone who lives there. This includes doing regular maintenance, costs of utilities, and making any upgrades when needed. An HOA management team may also decide to add one of these amenities to the neighborhood.
When that happens, the fees will definitely be needed to fund the building project. The HOA board can use residents to help decide what the best way to add amenities will be.
Everything You Need to Know About HOA Fees
Understanding your HOA fees and what they help with can make a big difference. Instead of feeling annoyed when seeing them on your bank statement each month, you can feel happy. Knowing you're contributing to the great place you get to live in is a huge perspective switch.
At PMI Brightstar, we know how important your money is to you. That's why we pay close attention to how we use HOA fees to better a community. If you're interested in seeing how we can help your HOA in San Antonio, contact us today!
