How to Change Your Homeowners’ Association

change-homeowners-associationHomeowner’s Association Defined

A Homeowner’s Association (HOA) is a legal corporation that is formed by a real estate developer in order to market and change-homeowners-association sell homes and lots in an exclusive community. Once the homes are purchased or rented, the role of the Homeowner’s Association changes to management.

The Homeowner’s Associations is generally run by board members that live outside the community. When purchasing a property that has a Homeowners’ Association, the buyer must agree to the HOA terms prior to completing the sale.

The basic purpose of a HOA is to keep property values high and ensure the rights and responsibilities of all homeowners or renters. Homeowners Associations also enforce rules and can even issue fines for non-compliance. However, there are times when the board of a Homeowner’s Association makes poor decisions that have a negative effect on the community. HOAs across the country are experiencing changes for the better because of resident input. Read more

Common Issues in Rental Property Management

problems-rental-property-managementAny real estate investor is usually assured of comfortable profits come the end of the month. In fact, the freedom that comes with owning several residential houses and apartment buildings is arguably bigger than owning any other business. This is because one does not have to work extra hard to attain his/her objectives. Actually, s/he can make money while literally sleeping. However, rental property management comes with its fair share of challenges.

Common Issues in Rental Property Management

Tenants Paying Late

The issue of tenants paying their rent late or avoiding to pay completely is common in rental property management. While a property is a business, it should have timely returns on investments. Whether the reasons for late payment are genuine or questionable, landlords should draft and enforce firm regulations. Read more