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HOAs: Protecting Home Values
Many Americans recently surveyed say they prefer to live in a neighborhood with a homeowners association, also called a community association, according to the 2018 Homeowner Satisfaction Survey, conducted by Zogby Analytics on behalf of the Foundation for Community Association Research. Ninety percent of survey respondents say their association’s rules protect their investment and enhance their property values, according to the survey.
Survey respondents said some of the best aspects of living in a community association are having a clean or attractive neighborhood; a safe neighborhood; a maintenance-free neighborhood; and having the association help maintain property values. On the other hand, respondents said the worst aspects of living in a community association are restrictions on exterior home improvements and paying dues. The most common monthly assessments range from $100 to $300. Condo assessments tend to be higher than HOA fees, with 17 percent being more than $500 per month.
Nearly 73 percent of residents living in an HOA said they felt their community managers provide value and support to residents and their associations. Further, 84 percent of respondents said that neighbors elected to the governing board “absolutely” or “for the most part” serve the best interests of their communities.
“Community associations remain an essential component of the ... more
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