Better Homeowners Associations
Better Homeowners' Associations
The goal of this project is to identify the challenges faced by subdivision Homeowner's Associations (HOAs) and develop creative solutions that help translate the community benefits incorporated into a subdivision's Development Agreement into a reality on the ground.
Typical development agreements include the ongoing provision of key community benefits such as open space management and weed control as well as basic services such as road maintenance and fire protection. Anecdotal evidence strongly suggests that the implementation of Development Agreement provisions often falls short of what was envisioned at the time of project approval. Given the current state of the economy, it is likely that more HOAs will fulfill fewer of their responsibilities, with an overall decrease in the provision of community benefits.
On February 26th, 2009 VARD hosted a panel discussion on the challenges faced by Homeowners Associations: Participants in the discussion most often cited problems with poorly crafted covenants, codes and restrictions, (CC&R's) dysfunctional HOAs, and inadequate cash flow.
Taking the issues identified that evening, VARD is looking to develop a resource guide for current and prospective homeowners on ways to promote healthy HOAs that can implement the vision of the development as originally conceived.
VARD also plans on submitting a set of recommendations to the county in terms of guidelines that could be used by developers when developing CC&R's and structuring HOAs in order to avoid the most common pitfalls that come from poorly worded or structured HOA documents.