All HomeOwners Associations in the United States do not function in the same way. Each type of HOAs can differ significantly based on the strictness in compliance with the rules. When choosing which type of HOA you would prefer to live in, it is important that your lifestyle and expectations are aligned. Picking out an HOA that perfectly suits your preferences can be daunting, but the first step is to educate yourself about the different types of Homeowners Associations. In this article, we have compiled a list of the different types of homeowners’ associations that exist within the US. But first, let’s define what an HOA actually is.
What is an HOA, and how does it work?
An HOA functions as an organization that oversees the maintenance of properties. The members of HOAs are elected by the residents of the community they are operating in. They enforce rules and regulations that ensure the safety and security of the community. These rules also include the upkeep and aesthetics of the community.
Being a part of an HOA also means that you need to pay a certain amount of money every month or year. These funds are then used to maintain the property and its welfare.
The responsibilities of an HOA can include
- Landscaping common areas like parks, pools, and clubhouses
- Overseeing maintenance and projects
- Managing finances
- Holding regular meetings
- Organizing events and workshops
- Keeping the residents up to date with community news
The different types of Homeowners Associations
What type of neighborhood do you imagine living in? Single-family homes with white picket fences or a trendy downtown condo? By assessing the type of HOA that operates within a residential community, you are essentially choosing the type of lifestyle and aesthetic you envision yourself living. These are the different types of homeowners associations that are tailored to fit different types of residential needs:
- Single-family Home HOAs
You can think of this as a cozy suburban community where each family has its own unique home and yard. This is the type of HOA that ensures everyone keeps their lawns clean and the overall environment is friendly and safe.
- Condominium Association
If you are interested in living in a bustling, upscale apartment tower with breathtaking city views, then this might be the association for you. The main responsibility of the HOA here is to maintain the cleanliness of public spaces, like the gym and the pool.
- Townhouse or PUD Associations
If you want the best of both worlds, then this association might better suit your preferences. You can imagine these like cozy houses lined up along cobblestone streets. You have your own space, but the streets? Those are the HOA’s responsibility.
- Co-operatives
If you are more interested in shared spaces and community living, co-operatives may be the right choice for you. In a co-operative, you basically own a portion of the total living space.
- Mixed-use Associations
If you value convenience, you should consider mixed-use associations. Here, your typical housing unit will be situated above shops. So you will have the buzz of city life and the convenience of shopping right at your doorstep.
- Master-planned Communities
These types of communities have a mix of everything. From homes and condos to shopping complexes, the HOA will overlook everything. Smaller associations may be established to overlook specific sections of communities.
- Age-restricted Communities
These communities are tailored specifically for residents who are 55 and above. If you are looking for tranquility and convenience that is specific to your unique needs, then you might consider an age-restricted community.
When selecting the type of HOA you envision yourself residing in, it is necessary to understand how each HOA functions and what responsibilities fall within its purview. The right choice for you will align with your lifestyle preferences.
How Can We Take Benefits From Deskflex(Opens in a new browser tab)
If you are a property manager, learning about the different types of HOAs that are established in the US is essential. To succeed as a property management professional, you need to know which communities you can manage better with your skills and qualifications. To learn more about different HOAs and complying with their regulations, check out ONR. Our property management software is designed to streamline and automate property management for you. Visit our website to learn more!