Beach House By Dawn

From a real estate perspective, let’s breakdown the positives of Homeowners Associations (HOAs) and maybe “some” down sides.

What is an HOA? It is a community defined by a “Master Deed” with elected positions comprising a board of directors (typically the neighbors) that allow that community association to carry out the confines of the Master Deed.

The Master Deed includes but is not limited to the definition of the community boundaries, rules and regulations, elections, terms, accounting and budgeting.

Neighbors in the HOA pay dues, regulated by the board, to the management of the community. These dues typically cover the contract of property management that allows the community to run and insure a pool, amenities, common area landscaping, common area water and electric, as well as the property management fees.

What is the benefit of having an HOA? Firstly, there is one entity responsible for the upkeep of common areas, amenities and money management. Is the pool in disrepair? The HOA is responsible for hiring the property management that addresses the pool repairs with a reputable contractor within budget and on time.

HOAs manage the aesthetics throughout the neighborhood. Usually there are approved fence types, no parking of trade vehicles/recreational vehicles and approval is needed before major changes to construction or landscaping around a home. Sometimes there is a limit to the number of pets in the yard and the type, like no chickens or livestock and no bully breads on dogs. This helps to ensure the peaceful enjoyment of those that reside in the community.

Communities with HOAs tend to hold their value in real estate sales and resales vs those communities that do not have an HOA. Neighborhoods that fall into disarray and disrepair on homes, common areas and amenities tend to not fetch the real estate values they once did.

The truth of HOAs is that fees have to stay budgeted or you have skyrocketing dues. The board also has to stay within their elected tasks and not be drunk with power. The HOA also needs to fully check contractors prior to hiring to not find themselves in a contractual dispute or litigation. Litigation that has been filed from an HOA affects the sale of property in the community.

As a Myrtle Beach Real Estate Agent, I find all of these benefits to be selling points in high density areas like our coastal communities. The “density” of our housing really is the operative word, with lots of homes, on smaller lots a well managed community makes an attempt that the peaceful enjoyment for homeowners.

If you need help navigating our communities in Myrtle Beach, Murrells Inlet, Surfside and Pawleys Island, reach out to me. Your Realtor should be helping you find the coastal community that is right for you and have knowledge of the various Homeowners Associations.