How to open your HOA?

First, you need to figure out what is the HOA? This abbreviation stands for the Fellowship of Housing Owners. This is not a trade organization that unites homeowners. Such as high-rise buildings, residential and non-residential premises. As well as the HOA conducts economic activities in these houses and carries out repair work. Earlier the main number of houses and apartments belonged to the state. For all of the above, it was the state that was responsible. There are two options that tenants can choose. Sign an agreement with the management company, or choose the second option, create an HOA themselves. For small houses, there is another suitable way. This is to hold a homeowner meeting without creating an HOA. The purpose of the HOA is to ensure the comfort and safety of residents, rather than raise more money and get profit from it.

What do you need to do to open your HOA and How to open your HOA?

1. First, you need to find active and enterprising homeowners. Who quickly find a common language with people. They will need to inform the other residents of the meetings. Conduct polls that will reveal the opinion of people living in the house;
2. It is necessary to register the organization of the HOA as a legal entity. To begin with, you should prepare all the necessary documents for registration. Then hand them over to the IFTS and after some time get your hands on your documents.
3. The general meeting of the tenants of the house is necessary in order to choose the board of the HOA. This should be a person who inspires confidence in people.

Advantages and disadvantages of organizing HOAs. How to open your HOA

Of course, the main advantage of the HOA is that the representative of the organization itself lives in the same house as the other residents. Certainly, he will take into account the wishes of all living in this house. HOA solves all questions that concern residents. The organization has no hidden intentions, everything is honest, transparent and most importantly reliable. At any time convenient for the tenant, he has the opportunity to familiarize himself with financial documents and understand where the money is going, handed over to them for repair or for something else related to his house.

Some more info. How to open your HOA

There are a few disadvantages, but still, there are. One of the first drawbacks is that only one is created by the HOA. Also with the HOA can be calculated additional cash, such as membership dues for the maintenance of the house. A representative of the HOA does not have its own premises to receive people on any issues of interest. He has to do it at home. And this is not always convenient and can distract from the intended plans.