Top 8 Benefits of an HOA: Is It Right For You?
Many people who move in (or invest in) to a new home may realize that they have also bought into a homeownership association. An HOA. If you’ve never been a part of an HOA, suddenly you might have a lot of questions about what exactly they are and why they exist. The fact is, there are many benefits of an HOA. Many people prefer having one wherever they live.
HOAs are common in Georgia, as they are in many places throughout the country. Property managers in Atlanta have grown accustomed to their role in our neighborhoods. While they may involve some additional fees to homeowners, it is important to keep in mind that many people prefer and benefit from the many things they do for communities. Here we will break down many of the benefits of an HOA and explain what that means for their communities.
Table of Contents
- #1 – Community Engagement
- #2 – Access to Amenities
- #3 – Well-Maintained Common Areas
- #4 – Increased Community Pride
- #5 – Maintaining Property Values
- #6 – Support and Resources
- #7 – Rules and Regulations
- #8 – Safety and Security
- See How a Property Management Company Can Help
#1 – Community Engagement
For many people, a home is not just where their stuff happens to be. They want to feel a part of the community where they live. They also want to feel involved in that community. Being a part of an HOA can be a big part of how they accomplish that.
Being in an HOA means that you can be a part of the decisions involved with living in that community. From regulations that dictate how the houses can be decorated, to how common areas are cared for and maintained, to neighborhood events that you can help plan and be a part of. These things create community engagement that many people seek out.
#2 – Access to Amenities
Communities that have an HOA often come with nice amenities because they have an organization overseeing them and championing their existence. They are an organization that wants the amenities and even raises funds for those amenities. HOAs oftentimes take the initiative to host fundraisers such as bake sales, concerts, or raffles. Why? If the community voices their interest in a particular amenity such as a park or a pool, they are organized and ready to act. This results in HOA communities often having some of the most and the best amenities.
#3 – Well-Maintained Common Areas
Another one of the benefits of an HOA community is the support for amenities that generally come with it. Homeowner associations help maintain communal amenities that otherwise may not be cared for as well if it wasn’t part of their own community. If there is a pool or unique landscaping, the people living there are oftentimes the best people to leave in charge of maintaining them. They care about how it looks and appreciate that they need regular upkeep. That kind of care can make a difference.
#4 – Increased Community Pride
When you are a part of the community decision-making, you feel like you are part of the community. At the heart of it, having an HOA means a certain amount of pride in the neighborhood that you are part of. You accomplish things together when you are members of an HOA, whether it is cleaning up communal areas or organizing a neighborhood event. When you accomplish things together, that pride in your community shines through and becomes a huge perk to your home environment.
#5 – Maintaining Property Values
Studies show that houses in HOA neighborhoods have higher property values than those that do not. There seems to be a correlation between HOAs and things like local government spending on public goods and measurements of the social attitudes of the residents. It is difficult to know whether it is the HOA that has any real effect or if it is just the neighborhoods that have an HOA that tend to have these results. However, the takeaway is that one of the key benefits of an HOA house is that you are more likely to see the property value maintained or improved over time. That is a major advantage.
#6 – Support and Resources
Having an HOA means a certain amount of support and resources to their members. They provide a platform for resolving disputes and fostering a sense of community through organized events and activities. The support and resources provided by HOAs contribute to a more cohesive, well-maintained, and enjoyable living environment.
#7 – Rules and Regulations
While other neighborhoods may have unofficial rules and regulations, one of the benefits of an HOA is that the rules for a neighborhood are decided on by the residents and enforced by the residents. This mode of regulation is welcoming to many residents who want a centralized place to discuss how their community looks, what is allowed and not allowed, and generally what they can expect in a neighborhood community. While some people may complain about regulations in the neighborhood they live in, at least with an HOA those regulations are discussed and enforced by the residents themselves rather than it being vague or enforced by informal community groups, neighborhood watch groups, or local government.
#8 – Safety and Security
Some HOAs have gated entry, restricted access to certain amenities, as well as rules for houseguests and gatherings in shared areas. Many people appreciate these features, which can enhance community security and help homeowners feel safe.
See How a Property Management Company Can Help
There are many benefits of an HOA that enhance the communities that have them. While many take advantage of these, it helps to have expert property managers by your side to ensure compliance and ensure things run smoothly 24/7.
Bay Property Management Group offers many important property management services, including HOA management. We can help with a number of tasks, from property inspections to vendor management, emergency maintenance, and more. Whether you’re looking for rental property management or help managing properties within an HOA community, BMG can help! Contact us today to learn more about our comprehensive property management services in Atlanta, Baltimore, Philadelphia, and other areas.
