Washington state received unexpected notoriety recently when the Washington State Legislature enacted a provision that not only impacts the local Homeowners Associations for which it was intended, but could have persuasive influence over Homeowners Association ratification and budgeting processes across the United States. For this reason, the legislation, its background, and its potential effects, must be unpacked and scrutinized.
Living under a homeowners association (HOA) comes with its own perks and downsides. Whether in a condo community or housing neighborhood, a homeowners association often provides security, landscaping, and basic services such as vent and window cleaning. It also means homeowners must follow certain bylaws and maintain a specific appearance on the outside of their property. The homeowners association is required to carry homeowners association insurance, different from homeowner’s insurance or condo insurance that is carried by each individual owner. Typically, association dues paid by each owner go to cover the cost of homeowners association insurance.