10/11
Psst…Homeowners and HOA Fines
Homeowners and HOA associations have quite the love-hate relationship.
HOAs are incredibly prominent – if you don’t live an apartment complex or neighborhood with an HOA, chances are you know someone who does. Those living with the association have grown over the last 50 years from 10,000 communities in the 70s, to more than 300,000 as of 2016.
And while HOAs can be beneficial, there are some rules and regulations homeowners would rather do without.
The biggest fines HOAs seem to hand out to homeowners usually fall within improper landscaping and trash being taken out too late or too early.
52% of homeowners say that have not paid an HOA fine and 29% say they have knowingly broken an HOA rule.
Even though a majority of homeowners don’t agree with many of the association’s rules, 57% of HOA residents said they would want their next home to still be in an HOA community. Reasons like increased safety, preserving their home’s property value, and recreational amenities might be what keeps homeowners coming back.
Check out The Porch’s Infographic concerning HOA’s here:
