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Living In An HOA

2/22/2016

2 Comments

 
When one purchases a home within a homeowner’s association, the sense of community should already be upheld and welcoming for any new home owner. Diversified Association Management not only helps maintain the standards for each HOA, they create the community within their everyday lives as well.  Being a community is sustained by each homeowner following the rules and regulations to continue creating the vision of the HOA. These policies range anywhere from convenient enforcement, architectural control, and most importantly the collection policy of assessments.  
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Once Diversified Association Management is hired on to an association, it becomes our job to uphold these policies. The collection policy is of most important to make sure each homeowner is aware of their assessments being delinquent if applicable. Assessments are put in place for the expenses the association incurs to make sure the community’s appearance is up to standards, maintain recreational amenities and in general, to create a beautiful hometown for their homeowners. 

Not all collection policies are the same, but most assessments are due on the 1st of the month. Some Associations give a grace period for each homeowner to pay their assessments. If payments are not received after the grace period given, a late fee may be applied as well as interest. A delinquent homeowner will then be notified of their missed payment. It is Diversified Association Management’s responsibility to communicate with the homeowner of past due balances. The law then puts the ball in the homeowner’s court to communicate with the HOA/management company in terms of paying their assessment.

Communication is key within a community; Diversified Association Management keeps that door open.  
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2 Comments
Jessie Holloway link
9/28/2022 01:40:36 pm

Thanks for talking about what to expect when living in an HOA. My sister and her husband are trying to buy a new house and are looking into HOAs. We'll have to look into association managers and see if they can help my sister decide if an HOA is for her.

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Iris Smith link
11/6/2022 08:08:43 pm

Thank you for noting that maintaining a community depends on each homeowner abiding by the rules and regulations to keep the HOA's goal alive. My father stated that his apartment building desires good management in order to manage the property. I will advise him to hire HOA management services so that the apartment may maintain harmony and all homeowners will abide by the rules.

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Diversified Association Management, LLC
4325 N Nevada Ave #100
Colorado Springs, Colorado 80907
Phone: 719-578-9111 (office)
Diversified Association Management, LLC
7887 East Belleview Ave, Suite 1100
Denver, Colorado 80111
Phone: 303-586-5564 (office)
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