Tiki Island Galveston Texas Homeowners Association
Since we have narrowed our search for our new home to Tiki Island, would you please explain the value of the Home Owners Association
The Incorporated city of Tiki Island does have a Homeowner’s Association that is mandatory for all residents owning property in the Village.
There are many reasons that a community, village or subdivision would choose to implement a Home Owner’s Association [HOA]
1. It could be the best tool to protect the quality of the neighborhood, thus maintaining and enhancing the value of your property.
2. The HOA has a board of directors that incorporate the Deed Restrictions of the Village and use the law to enforce these restrictions for the betterment of all the residents.
3. Tiki is divided into 13 Sections. The annual assessments for each property are calculated according to the section in which the property is located. Mandatory Maintenance fees are assessed to each property along with a voluntary monetary donation.
4. The HOA fees are utilized for running the Association, maintenance and landscaping of the common areas and recreational centers. The fees also help with neighborhood functions and community events.
Tiki Island Galveston Texas Homeowner’s Association also requires a transfer fee when a home changes ownership on Tiki Island. The transfer fee is $125.00 + [$55.00 to $95.00 for statement of account]. We will attach TREC #36-5 Addendum for Property Subject to Mandatory Membership in an Owner’s Association to your offer on the home.