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Interesting and Important Things you Seriously Need to Know About Home Owners Associations If you are currently staying in a townhouse, in a condo or a different type of leased land property then you should be aware of the pros and the cons that comes within it. If you are living in a leased land property then you should know that it is kind of beneficial since it has many amenities to give you, such as an entertainment center, a fitness center, a swimming pool and many more, they will also have all types of workers ready to be dispatched if a problem arise in order for you to not bother dealing with maintenance work and other simple task like cutting grass and watering plants, they should also have very high security like a doormen, professional security personnel and locked gates so that your community will feel secure and safe all the time. Since these kinds of amenities, maintenance staff and security system should definitely cost money to employ, the home owners association or HOA for short will need or much rather compel you to join their community so that the upkeep on having this amazing facilities and benefits can be achieved and enjoyed by the people who are living in a leased land property, it can either be a monthly or yearly payment, depends on what type of contract the HOA will give you. Thus a HOA fee is basically a kind of fee that is given equally to all the residents within a leased land community, it ranges from $200 to $500 which highly depends on the types of amenities and facilities that the community can easily use and is available, the fee can sometimes increase if ever a new amenity or facility is agreed upon by the community to be installed so every residents will have to pay extra money for it to be achieved, like a new elevator or a solar panel roof system. If a certain resident should stop paying their HOA dues then there is currently plenty of different methods for the home owners association to do so that they can collect that resident’s debt. One of the most basic ways for them to start is by sending the specific resident a demand notice regarding about his or her payment, they will basically include the total amount of the residents debt, how long the debt was not paid, the current interest and late fee cost and a warning on what the HOA can do to the resident if the debt is not fully paid in time. The HOA also have the power and ability to add a lien on your leased land property if you failed to pay your dues on time, and having a lien on your home may make the HOA to place your leased land property in foreclosure.Smart Ideas: Options Revisited

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