Tech Tips in 95842>Question Details

Craig Smith, Home Buyer in Roseville, CA

what is an yearly HOS dues?

Asked by Craig Smith, Roseville, CA Fri Feb 4, 2011

yearly dues

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Homeowners' associations, or HOAs, are formal legal entities created to maintain common areas; they have the authority to enforce deed restrictions. Most condominium and townhome developments, and many newer single-family subdivisions have HOAs, which are usually created when the development is built. Covenants, Conditions & Restrictions (CC&R's) are issued to each homeowner, and HOAs are established to ensure that they are adhered to in order to maintain the quality and value of the properties involved.
0 votes Thank Flag Link Fri Feb 4, 2011
Hmm. I have to ask are you asking about an HOA or did you really mean HOS like when a hospital acquires a real estate trust? If you meant HOA thats easy enough. It obviously differs where ever you live. Some people love them. Some people hate them. They keep people from people putting up mailboxes that look like fish and having boats in their yards, which can be a good thing or a bad thing depending on how you feel about boats and fish mailboxes! Usually the fees cover electricity for your entrance lights, upkeep of common areas, sometimes security... It just varies depending on the hood. In my city (Mobile, Alabama) 150, 200 and up is generally the annual price. Thanks!
0 votes Thank Flag Link Fri Feb 4, 2011
A homeowner's association, also known as an HOA, is an organization that has been created either by the homeowners of a community, or by the developer of the community. They oversee any shared property of the community and also enforce rules and regulations that the homeowners must abide. Some examples may be keeping your grass trimmed, having fences no higher than a certain height, etc. In some situations, the HOA may have certain amenities that all homeowners in the association may use, such as a swimming pool, tennis courts, etc. The HOA collects dues from the homeowners in order to enforce the rules and maintain the amenities and shared areas.
0 votes Thank Flag Link Fri Feb 4, 2011
Hi Craig,

Did you mean HOA? If so, yearly dues are those paid once per year (sometimes broken up into 2 payments depending on the Association, to make payment easier) as apposed to monthly dues that can be found in many communities. Home Owners Association dues can range in price depending on the services they provide. Each HOA is different, some provide for security (ie patrol and gates) while others may have community amenities (ie pools, club house, tennis courts) that all require maintenance and that is part of what the dues can cover. Since every HOA is different it is always a good idea to talk with neighbors or you can review the rules and regulations of the HOA during your escrow and if there are things you do not like you will have a set amount of time in which you can back out of the sale if you do not like the terms without loosing your deposit.

Let me know if you have any other questions, since their can be many pro's and con's to living in a HOA.
Web Reference:
0 votes Thank Flag Link Fri Feb 4, 2011
It depends on the HOA. Some will cover maintenance of the house and yard. Some will cover just the community area.

Nick Seevers
Century 21 All Professional
(916) 715-8417
DRE #01862254
0 votes Thank Flag Link Fri Feb 4, 2011
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