 |
| |
| HOA Benefits: Part 1 |
| |
| By Steve Petrini on September 07, 2009 | View all articles |
| |
An HOA provides people with shared neighborhood values an opportunity to enforce regulations, consistent with overarching statutory constraints, to achieve a community representative of such values. In doing so, an HOA inherently restricts the rights that would otherwise exist for its members based on municipal codes. For instance, a degree of conformity is often required in exterior appearance of single family homes and there are often time limits and/or restrictions to activities generating noise. There are pre-existing rules in the form of CC&Rs and bylaws that a buyer has a right and an obligation to view before entering such a community, that also prescribe methods for modification of these regulations.
These bylaws can be limited in various degrees by state laws, with some overriding federal judicial or statutory limits. In every association, board members and officers are chosen by election from its property owner-members, with the ability in some states for the membership to remove board members even during term. |
| |
| |
|
|
|
Fiscal
