A homeowners association, or an HOA, is an association that owns and sells homes in a specific development area. When you agree to buy a home in an HOA, you get some benefits, such as general upkeep services for the neighborhood, but you also have to abide by the rules that the HOA puts in place. They may dictate where you can park your cars, for instance, or what upgrades and additions you can put on your house.
Naturally, those living in HOAs may run into some serious disputes with the association. It can feel frustrating when the HOA is impacting your quality of life or not giving you what you’re paying for with your HOA fees.
For instance, unmade repairs are a common reason for disputes. Your HOA fees are supposed to cover some of these general repairs. That upkeep is necessary to maintain your property value. Much like a landlord, an HOA may be slow to get the repairs made, and some homeowners actually have to sue to get anything done.
Another potential issue is the misappropriation of funds. Again, you are the one paying your HOA dues. They can cost hundreds, and you pay every single month. You want to see a return; you want to get something from the HOA. But what if they start wasting your money or refusing to use it to fund necessary projects? You agreed to pay the dues when you bought the house, but you only agreed to that based on the idea that your money would be used properly.
If you run into either of these issues, or any others, be sure you know what legal options you have.