Homeowner Associations (HOA)
The Carolinas boast 25,000 planned communities, many of which are referred to as Homeowner Associations (HOAs), also known as Community Associations. Association Management Group (AMG) has proudly managed HOAs since 1985. North Carolina HOAs are governed under General Statute 47F, and South Carolina HOAs under the Not-For-Profit Corporate Act. In a Community or HOA, the owner owns and maintains his or his own home and property. However, in some cases the Association may provide certain services to the owner (such as cutting the grass, maintaining building surfaces and roofs) and typically provide some type of maintenance for common areas.
Often the principal focus of HOAs involve dealing with three Community responsibilities:
- Business Affairs — This entails taking care of the Community’s common areas and systems such as ponds, sewer pump stations, sidewalks and lifestyle amenities such as pools and tennis court. It is essential these are operated in a manner that leads to increased property values. HOAs are also tasked with collecting fees and paying bills for common area expenses.
- Quasi-Governmental Functions — This includes various architectural community standards related to how homes and yards are maintained. In many cases, homeowners are required to submit applications to make exterior modifications to their homes. This is done to establish and maintain community standards with the intent of increasing property values.
- Community — Many surveys of prospective buyers indicate that “community” is important to prospective homeowners. Often buyers are attracted to Associations that have a strong sense of community. AMG managers possess three decades of experience helping community leaders and volunteers establish wide-ranging programs from Easter egg hunts to bridge tournaments to community socials to neighborhood service projects. Many realtors believe that a HOA with a strong sense of community brings a higher value.
At AMG, we understand that for a HOA to be effective, it must be successful in all three areas. The common thread is working to increase the property value, and everything we do focuses on helping to better the community. In each of the HOAs we manage, we strive to increase the value and make the neighborhood a pleasant place to live.