HOA Fees — How do Homeowners Feel?

September 18, 2023

HOA Fees – How they Help Keep Your Community Beautiful, Safe and Sound

When’s the last time you visited a neighborhood and said, “Wow, it would be nice to live here. It’s so well maintained and rich with landscapes, amenities, and activity.”

Hopefully, you said that when you first visited your current community.

Yes, the aesthetics and features of a community attracts buyers and keeps families happy. Yet, management of a great community has its costs. Beauty, safety and utility doesn’t just happen out of thin air.

A Celebration of Good Living

Sometimes homeowners aren’t sure they’re getting good value for their HOA fees. Too often, residents have no way to compare. However, they will trade stories with friends from other homeowners associations.

For residents, good HOA management and maintenance enhances your family’s lifestyle, and gives kids a safe and stimulating neighborhood to live in. And for your visiting friends and family, it’s a special place to visit to share and celebrate your lives.

A Beautiful Neighborhood Should Stay That Way

It’s the big picture of lifestyle value, safety, and maintenance of your property’s value that should be highlighted to you, the member. Not challenging the notion that property and facility maintenance is of low value may lead to run-down facilities/infrastructure and neglect.

The HOA fees you pay cover trash removal, waste management, water, electricity, security, landscaping, lawn and tree maintenance, repairs, administration, clean danger-free recreation facilities, staffing, swimming pools, tennis courts, gyms, and roadways. New amenities and reserve funds also require funding. Without all these services, the value of living in your neighborhood drops and your property value falls too. And that invites many perils, as I’m sure you hear about on the news every night.

Your HOA dues pay for an amazing lifestyle where you can feel good. Good feelings, contentment, property value, good health and safety are the key deliverables when you pay your HOA member fees.

What are Typical HOA Fees?

According to a Bankrate.com report, monthly HOA fees average $170 per month, while most association members pay much less. HOA/Condo fees in the range of $800 a month aren’t unheard of. I have a friend who is paying that much.

Services fees vary from $10 to $30 per home in the community. HOA’s who use HOA management companies are charged an initiation fee, management fee and an exit fee. HOA boards must decide on and negotiate their fee. View an example of an HOA management contract.

According to a Lending Tree survey, 35% of HOA members feel their HOA fees are too high vs benefits delivered. 45% reported their fees increased in the year. 63% said they feel HOA fees are fair.

If you feel your HOA fees are too high, it’s wise to attend your homeowners association meetings and inquire about HOA management practices and where the money is being spent.

Using their HOA software, they can create reports that will reveal expenses and revenues.
You may be surprised to discover the amount and type of behavior that makes maintenance costs rise. And some members don’t pay their HOA fees or HOA violation fines.

Talent and a Good HOA Management System

These management companies are often understaffed and overworked. A solution for the high-cost problem is in good management decisions. A talented staff and experienced manager can manage more efficiently with well-vetted purchases, and a modern HOA software which brings digital communications, payments and accounting up to a stellar level.

The top trend in HOA management right now is cost reduction. A modern HOA software solution is the key to reducing costs and growing revenues.

See more on payment software for community associations and visit our association solution now for the full benefit package.