What are HOA governing documents? They are the essential documents that set forth how the Home Owner’s Association of your community runs. Also, they are the rules and regulations that you must abide by as a resident. These governing documents are necessary to have an HOA. They set forth guidelines to help with fair treatment of all interested parties and the preservation of home values.
The Nuts and Bolts of HOA Governing Documents
Two of the HOA governing documents are nothing more than housekeeping. The articles of incorporation and the bylaws of the association are the nuts and bolts of the HOA. However, most residents never bother to look at them.
The developer creates the Articles of Incorporation. This legal document allows the developer to set up the association before any homes hit the market. It is necessary to make the nonprofit a legal entity.
The Bylaws set out how the association does business. It also states who can vote, procedures relating to budgets, how long board members can serve, and more. This information may be beneficial to some owners but is not critical for all of them to have.
The CC&Rs Set the Basic Guidelines for Owners
The Declaration of Covenants, Conditions and Restrictions, known as CC&Rs, is a much bigger document. Much of it is wordy and includes more housekeeping about the development. However, it also contains the rights and responsibilities of its owners.
The owners must follow the guidelines set out in this document. Therefore, the portion concerning owners’ rights and responsibilities is one that all residents should read and understand. Homeowners will find information about their property when reviewing the CC&R. For example, they will see rules on yard care and where fixtures can be placed on their homes.
The Rules and Regulations of Your HOA
The central piece of your HOA governing documents is the rules and regulations section. It is the detailed information residents need to know and understand. Governing documents talk about the things you can do with your property and in the common areas. It also helps to preserve the value of homes and makes life more reasonable for all association members.
All members should become familiar with this part of the HOA governing documents. Even potential buyers should check out the rules and regulations of the HOA before purchasing a home. By reviewing these rules prior to purchasing, it will ensure the restrictions are ones the homeowner live with.
You should know the answer to the question “what are HOA governing documents?”. If you do, you will be a more informed homeowner and resident. You are also more likely to be content with where you live.
Are you an HOA looking for better ways to communicate with homeowners? Contact our team at Ardent Residential today to learn more about the professional and cost-efficient HOA management services we offer.