HOA stands for Home Owners Association. If, for instance, the pump in your community swimming pool stops working, rather than wait for one homeowner to volunteer and fix the problem, homeowners association are responsible for getting the job done.
Condo with nice living room
A homeowner in Arlington is required to pay HOA fees which are used to pay for amenities and maintenance in their own community or condo building.
How much are HOA fees?
To cover these property maintenance expenses and repairs, homeowners associations collect fees or dues (monthly or yearly) from all community members. For a typical single-family home in Arlington, HOA fees will cost homeowners around $200 to $300 per month.
HOA fees in Arlington can be a bit higher or much lower depending on the size of your house or condominium and kind of services provided. The larger the homeowner area, the higher the HOA fee—and vice versa. Normally, the Board of Directors who are voted in by the homeowners set up the fees.
Many HOAs pay property managers to oversee maintenance and deal with some other real estate–related property issues. HOA fees might also include insurance payments to cover common areas.
HOA fees are normally divided into two parts: One part goes towards monthly expenses, while the other is put into a reserve fund. This reserve fund serves as a safety net, to be used in case of an emergency such as natural disasters. They also cover long-term repairs and replacements such as roofs, plumbing, and exterior paint. The HOA should keep you updated on all the decisions made.
HOA rules: What to expect
All HOAs have their own setup rules and restrictions. These may differ from one community to the next. These rules are meant to keep the community safe and beautiful. The rules may be spelled out in the covenants, conditions, and restrictions, or CC&Rs. Make sure you read and understand all of these rules and restrictions before buying a home so as to ensure that they are rules you can live with.
Though the rules are different from community to community, here are some that you can expect:
Allowed colors for exterior house paint
Type of fencing allowed
Minimum landscaping and property standards
Restricted vehicle storage and parking
Limit of type of security light you can attach in your house
Restriction on property uses that generate noise or smells such as raising livestock
Rules on the commercial uses of land reserved for the residents
Charity W. is a professional and skilled writer with a diploma in Mass Communication. When she is not glued to her computer screen, Charity spends her time reading, traveling, and watching movies. She is an expert on Arlington Virginia and keeps current with local events and occurrences.
