20 Jan Reasons Why You Should Pay Your HOA Fees on Time
Mga higala, does your neighborhood have a Home Owner Association, or HOA?
Depending on where you live, there may be a HOA or something similar established in your neighborhood. You may also be annoyed by their monthly fees – why pay for HOA fees when you can just maintain your own home?
There are benefits to keeping up with your HOA fees, though. While not all neighborhoods have a homeowners association, there are definite advantages to them, and should be a consideration when you’re looking to buy your first home.
Acadeo lists out some of the pros of having a home owner association in your neighborhood.
THEY MAINTAIN NEIGHBORHOOD AMENITIES
Home owner associations are responsible for maintaining community amenities, for neighborhoods that have them. Examples of these amenities are basketball or tennis courts, swimming pools, and club houses.
These amenities aren’t exclusive to gated subdivisions as well. If your neighborhood has a community center – usually near the barangay hall – some of the services offered, like a day clinic, day care for children, or conflict mediation between neighbors, may require fees in order to continue. HOA fees collected monthly can help make these services “free”, as well as providing incentive for the residents to make use of these services.
THEY PAY FOR COMMUNITY STRUCTURE REPAIRS
Let’s face it: we don’t really pay attention to things like fences or gates if they’re not part of our property. If you like to see your neighborhood looking instagram-worthy, though, broken perimeter fences and rusty subdivision gates can be very frustrating.
Fixing these things aren’t cheap, though, which is where HOA fees come in. HOA fees can be used to pay for the materials and labor needed to fix things like waiting sheds, subdivision gates, broken or burnt out street lights, and other structures that need repairs.
THEY PROVIDE SALARY FOR SECURITY AND UTILITY STAFF
Have there been a series of home break-ins in your neighborhood? Dealing with rowdy groups of teenagers or young adults vandalizing homes? Does your neighborhood have a curfew to enforce social distancing?
For many Filipino subdivisions, HOA fees are used to provide a salary for utility staff who manage repairs within the neighborhood, or to provide a salary to security guards who patrol around the neighborhood and inspect vehicles coming in and out of the area.
When homeowners don’t pay their monthly dues, they deprive these staff of a livelihood, because if their salaries can’t be paid, then the HOA will have to let them go and find work elsewhere.
HELPING YOUR NEIGHBORHOOD
Home owner associations serve a tangible purpose in improving the quality of life in our neighborhoods. Keeping up with monthly dues can greatly improve the facilities and amenities of a neighborhood if utilized properly, so don’t hesitate to ask about where your HOA fees go.
In closing, HOA dues are more than just an extra expense – these fees contribute to the betterment of a neighborhood. Whether it’s in the form of condominium dues or as part of rental insurance, your HOA fees help elevate your living conditions in ways you might not realize.
So keep up with your monthly HOA dues if you have them!
Chat you guys next time!