Homeowners associations (HOAs) (also referred to as property owners’ associations) are established by planned communities with multiple or single family homes such as condominiums. Being a member of a homeowners association is typically a requirement for purchasing certain properties. A homeowners association is formed to establish rules regarding properties to ensure they follow the jurisdiction.
Most homeowners associations are incorporated and are subject to the laws of the state.
Homeowners associations may also have a substantial amount of legal power over the property owners in their jurisdiction. A homeowners association has a board of directors elected to enforce and monitor the governing documents for the association.
An Orlando Homeowner Association describes the rules in a document known as the Declaration of Covenants and also describes the conditions and restrictions which enforce certain conditions on the owners and their properties. The conditions involved may include a set of structural restrictions, for example, the type of fences allowed. The document should also include the penalties that the homeowners may have to face if the guidelines and conditions have not been followed. The penalties may include fees, forced compliance, and in certain instances, litigation.
The Costs Involved in an HOA.
An Orlando Homeowner Association may also collect monthly association fees or annual fees to upkeep common areas like tennis courts, swimming pools etc. The homeowners’ association fees typically contribute to the association’s reserve fund. This fund is set aside for emergency use or even for major projects for renovation. The board of governors in a homeowners association is normally responsible for the finances in the organization, including funds management.
An Orlando Homeowner Association may also be able to impose assessments on homeowners when the association lacks sufficient funds to pay for unexpected repairs on commonly used areas like parking lots. Besides imposing penalties for being unable to follow the conditions set aside for homeowners, Homeowners associations can also place a lien on a piece of property if a homeowner fails to pay his dues on time.
The Benefits of an HOA.
Orlando Homeowner Association members typically aim to maintain the standard in the appearance of the property by setting regulations and guidelines for the community. The management services provided by the homeowners association may provide amenities such as pools, tennis courts, and even landscaping available for all homeowners association members. Stable property values should be maintained and supported by the community.
The growth of the state and the increase of subdivisions and condominiums is an increasing trend. However, along with that, an increase of issues relating to the operations of an Orlando Homeowner Association has also become quite common. At the Gretchen Ortiz Law firm, our attorneys are at the forefront of this increasingly popular area of law.
We, at the Gretchen Ortiz law firm, provide legal services to Homeowners Association partners involved in specific traditional and modern legal issues regarding their property related matters. This includes assessment collection and covenant enforcement. However, The Gretchen Ortiz law firm also has significant experience in matters that might be unique to the HOA area of law. The Gretchen Ortiz law firm guarantees clients receive the right legal advice and strategies needed to tend to their needs!
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