What if your HOA allowed your neighborhood to smell of fish? That's exactly what happened to the Avalon neighborhood in Moody, Alabama.
When a pond there dried up, it left hundreds of dead fish, which caused problems for the homeowners. The stench was so bad that people said even the inside of their homes smelled. Now, if you were a Moody resident, would you still pay HOA fees?
It helps to remember that not all HOAs are like this and that there are good reasons to pay them. Here's what makes those fees worth it.
HOA Fees: What Do They Cover?
The fees you pay cover property maintenance or maintaining common areas used by the HOA community. This includes green spaces, lobbies, elevators, etc.
In some communities, however, HOA dues may not cover certain services. For example, paving the road or tree removal are tasks that they might entrust to the local government. The downside to this is that issues might not be tackled as fast as an HOA can get them done.
Fees could also cover upscale HOA living amenities. Think pickleball courts, gyms, clubhouses, and so on. Some HOAs also collect dues to maintain dog parks and playgrounds.
Beyond HOA Property Maintenance
By paying for maintenance services, an HOA helps improve the value of your property. It makes sense, considering well-managed homes with undeniable curbside appeal tend to be more attractive to home buyers.
Some HOAs also provide emergency services in case of floods, fires, and other events that may cause damage to the homes they oversee. With assistance like this, you can keep your home's value intact. Just imagine how much you'll have to pay for restoration to keep your house "sellable" without help from your HOA board.
Reserve funds are also worth mentioning. If your HOA dues cover projects that aren't needed yet, you might feel like you're paying too much. However, these fees help avoid increases in annual dues as well as special assessments.
How Much Is Too Much?
Speaking of paying too much, every HOA member is entitled to know how their money is being spent. If you feel the dues are too much, you can always compare the fees with those of neighboring communities. You can also request to review the HOA's financial statements.
It's also a good idea to attend regular HOA meetings. This way, you'll understand how the board allocates the budget, especially with upcoming projects.
As for deciding not to pay HOA fees just because you don't feel like it, be warned. This is considered breaking HOA rules, and you could be fined or the HOA may decide to have your home foreclosed. Long story short, don't do it, or if you're still house-hunting, maybe accept that being part of an HOA community isn't right for you.
Luxury Expenses or Necessary Fees?
Without HOA fees, it would be impossible for the HOA board to keep your community in excellent shape by ensuring common areas are well-maintained and up to standard.
If you're an HOA board member and believe your Birmingham association can benefit from professional help, we can customize our services for your community. To experience the PMI difference, backed by over ten years of experience, don't hesitate to call us at 205.964.8864.
