Not used to HOA Understand the covenants

“A reasonable HOA is like heaven,” says Bruce Ailion, a real estate pro and attorney for RE/MAX Town and Country in Atlanta.In the past, Ailion says he represented a builder of family homes which in fact had no restrictive covenants set up and, according to him, the community looked like an eyesore a couple of years later. A nearby community, on the other hand, that did have an HOA with restrictive covenants was thriving. “Those properties looked like new, and year after year the gap in price between the two communities has grown,” he says.

However, some CC&Rs might have a few rules that buyers find too restrictive. That’s why you need to know what they are before you ink the deal.

Some common restrictive covenants may include permissible colors for exterior house paint, minimum property and landscaping standards, kinds of window treatments allowed, restrictions on vehicle storage or recreational vehicle parking, among others.

After you submit an offer to buy a property, you are entitled to receive and read the CC&R for the neighborhood, often within a certain number of days.

Restrictive covenants can be changed, but they must be contested, and it also takes a majority vote by the neighborhood members of the HOA.

“Yes, restrictive covenants keep the appearance of the property up and can prevent eyesores such as wrecked cars, unkempt lawns and oddball home colors,” Ailion says. However some CC&Rs, he admits, can seem too restrictive and infringe on some rights of residents.

As an example, in Keizer, Ore., an HOA would not permit a family to park an RV in their driveway that they were required to transport their disabled child. The family sued and arguing the fact that HOA rule violates the Fair Housing Act.

Whether you want a HOA or not, Nick & Cindy Davis with RE/MAX Premier Group are here to assist you. We can always be reached at 813-300-7116 or simply click here and we will be in touch.