Wednesday, October 12, 2016

The Neon Pink House on the Block: The Benefits of Homeowners’ Associations (HOAs) vs. Restrictions

“Why can’t I raise goats in my backyard?” “Turn the rooms of my home into an inn?” “Paint neon pink murals on my siding?” Homeowners’ associations (HOAs) can sometimes be viewed by the individual homeowner as stifling expression and creativity. In reality, the main goal of an HOA is to maximize property values and create a positive neighborhood environment based upon shared understanding.

An HOA is a community association that serves the greater interests of a neighborhood and its residents. As such, having an HOA can give a community more political advocacy and power, as well as be a collective force for maintaining stability in resale value, community, and structural integrity. Alaska Management Group has been working with and managing homeowners’ associations in the Anchorage area for decades, and as we say in our mission statement, the goal is to “ensure a safe and comfortable lifestyle while maintaining the value of the community for all residents.”

HOAs will have agreed-upon CC&R’s (covenants, conditions, and restrictions) to meet their goal of maintaining home values, neighborhood amenities, and property stability among their residents. These will usually include:

- Fees and membership dues.
- Ordinances and rules, such as architectural, usage, parking, and noise restrictions.
- Responsibilities of the homeowner and the association.

Although HOA’s will most likely put an added layer of restrictions on the individual homeowner, on top of the local government’s zoning and neighborhood ordinances, an HOA serves the collective interests of its community. HOAs can be a powerful voice for the greater interests of their residents, and allow homeowners to have access to amenities as a group that they would not be able to afford individually. Many homeowners appreciate the added stability and the financial protection of assets that an HOA provides. Finally, HOAs can create an added sense of community and neighborhood identity. For more benefits of an HOA, visit here.   

Alaska Management Group is the longest-running association management company serving communities in Anchorage, as well as surrounding cities such as Palmer, Wasilla, and Eagle River. We provide exceptional management services and association-specific websites that facilitate shared information, communication, and access between residents, Board members, and our team. We provide both full service and financial management as well as Board of Directors consultation services. Let us know if we can assist you in maintaining the value and comfort of your home and association by completing our management request form.