What is a HOA?
The majority of Spring Texas subdivisions have an HOA and as such it is important to know what it is, what it does, and what the annual fee is. The HOA is the Home Owners Association and it plays a vital role in maintaining subdivisions and the resale value of Spring TX homes.
Membership in most cases in the HOA is mandatory and not voluntary. The HOA has a board made up of elected homeowners. All of the board members serve as volunteers. The board will typically meet on a monthly basis and make decisions concerning the maintenance of the subdivision. The board may employ a professional management company to help with some of the tasks of running the HOA. These tasks may include the preparation of the financial statements, assessing and collecting the annual HOA fee from the homeowners, printing of checks for the payment of vendors, and the identification and notification of deed restriction violations.
The board of the HOA decides the pool maintenance contractor, the lawn service contractor, the lake management contractor, the security contractor, and the trash contractor. They also decide when equipment is to be replaced and its replacement. I recommend you try to attend at least of couple of HOA meetings. You will gain a better understanding and appreciation for the service that the board members of your HOA are providing to you.
For single family homes the HOA fees are typically assessed on an annual basis. You will receive the bill in December for the next year and it will be due by January 31st. The HOA fees range from a low of $350 to upwards of $1,500. The HOA fees vary based upon the quantity of services provided and quantity of amenities that need to be maintained by the HOA.
The subdivision that I live in has a little below average annual HOA fee of $488. In return for my $488, I receive well lit streets (the HOA has to pay for the electricity to light up the streets in my subdivision), mowed common areas, seasonal plantings, security that patrols the subdivision, maintenance of lakes and parks, lifeguards for our pool, improvements to my subdivision including community news boards, new playground equipment, and new water slides.