Ever wondered why you have a Homeowners Association?
Your Association may be your best tool to protect the value of your home and the quality of your neighborhood. Community Associations do any number of different things, such as setting and collecting the maintenance fees required and needed to run an Association, maintaining landscaping or recreation centers, and providing for events or meeting places for neighborhood functions.One of the most important functions of an Association is to enforce deed restrictions and protect the value of the community assets – among those being your home.If deed restriction violations are not corrected, there can be very negative results over time.
Estimates are that property values in a subdivision with an inactive Association can fall as much as twenty percent due to failure to enforce restrictions. The Association, acting through its Board of Directors, can control the appearance of the neighborhood by taking deed restrictions seriously and by vigorously enforcing infractions of those restrictions.Deed restrictions are legally binding covenants, filed with real property records, which provide for building, maintaining, and using the homes in your neighborhood. The deed restrictions control how homes look and what can be done to alter them within the subdivision.