If you live in a home governed by an HOA in Santa Clarita, you will have a board that oversees your community or subdivision. Each HOA is responsible for collecting dues from all homeowners to provide financing for group activities, which can include the maintenance and repair of any shared space, management services, insurance, meetings and other types of events.
In most cases, the primary role of the HOA is collecting dues that are used to ensure maintenance and repair of any common areas within the community. Some of the common areas that these funds may be used for includes swimming pools, playgrounds, tennis courts, or any other area that is able to be accessed by all community members. Additionally, any type of townhouse community that has shared roofs, yard space, laundry areas and plumbing will also benefit from the HOA dues collected. These funds will be used for the repair and maintenance of these shared items.
It is the responsibility of each community member to pay their HOA dues. The collected dues are either put in use right away, or set back into a type of reserve fund that will cover the recurring costs or to help create a source of money for any capital or unforeseen projects that may happen in the future that will require maintenance. This reserve can be used for damage caused by a natural disaster such as a flood or storm, or for other issues including fires or regular wear and tear.
The most common way that HOA’s utilize dues is to enhance any area that is used by all members of the community, which is why it is required that each member pay these on a regular basis. The HOA may also place fines or fees for any rules that are broken by a member or if the fees are not paid in a timely manner. Any fees that are collected will go into a reserve account in order to maintain the common areas or the other expenses that the HOA organization will incur.
National Property Management Group has extensive experience managing HOAs. Our professional staff is knowledgeable about HOA management in Southern California, serving Los Angeles, Santa Clarita, Valencia, and the surrounding areas. We can manage your HOA properties for you so you have less to stress about. We provide innovative property management solutions that outshine our competitors. There is no property too large or too small that we cannot service.
National Property Management Group
25115 Avenue Stanford A300
Valencia, CA 91355
(661) 295-5966
www.npmgonline.com