If you decide to buy real estate in a townhouse, condo, or subdivision development, you’ll be subjected to strict homeowner association rules and regulations; fines for violations of these rules; a lien if you fail to come up with money for your fines; association fees; or assessment fees; and many other possible fees if you don’t follow the guidelines.
If you’re considering purchasing real estate subject to a homeowner’s association, you may be surprised at how detailed the regulations can be. Let’s go over some typical stringent rules found in some association regulations:
-All exterior improvements or paint jobs must be approved by the homeowner association prior to commencement.
-Vehicle repairs aren’t allowed to be performed in the driveway of a home.
-Installation of a utility shed in your backyard isn’t allowed.
-Outdoor clotheslines, television antennas, basket ball hoops, and satellite dishes are prohibited.
While certain association rules are designed to provide a neutral atmosphere for all residents, not all residents feel as passionate about some of the rules. For example, while children must be allowed in all developments, except for senior developments, some residents may not welcome children as equally. It may take some effort on your part to become involved in the association in developing a more child friendly atmosphere.
Let’s go over some additional regulations you may need to abide by:
-The association limits only one pet per unit. The pets weight can’t go over 15 pounds.
-Pets that are overly loud or aggressive must be permanently removed from the premises within three days notice by the board.
-Homeowners that own bicycles cannot leave them in undesignated spots. They can’t be left unattended on community areas, in hallways, or placed on the balcony or patio.
-Personal conduct and clothing in the common grounds must meet association guidelines.
-Signs will not be displayed anywhere on the property.
-Owners aren’t permitted to install drapes or curtains in any unit without a white liner visible from the exterior.
-Home owners aren’t allowed to invite more than 10 friends or family members over for a gathering in a unit.
-If a property owner has plans to rent out their unit, a pre-approval must be obtained by the board before embarking on such an endeavor.
-If you decide to sell your unit, the board can reject any new homebuyer in the association for any legal reason it decides is appropriate.
Homeowner association rules can affect certain areas of your lifestyle. Before you decide on a development, make sure to review the regulations to see if you can live with them.
