A well-run and managed Home Owners Association can be a blessing, and a poorly managed Home Owners Association can be a curse.
In Bahrain, the formation of Home Owners Associations is mandatory. Nevertheless, lets determine the draws and drawbacks of a Home Owners Association.
Following are some of the pros when a Home Owners Association is formed:
Your neighborhood will look good: Generally, an HOA establishes rules to ensure the neighborhood looks sharp. These include strict guidelines about keeping restrictions on parking cars and other large vehicles on the street, and limitations on exterior paint colors.
Your maintenance costs will be shared: The common areas will be the responsibility of all owners. Owners will begin taking care of all the amenities which will minimize the const on repairs. In addition, the expense of repairing will be distributed among all owners.
On the other hand, some of the cons are as follows:
It will take some effort and time to have a suggestion implemented: If someone buys a home in an HOA community and wants to make changes to the property, such as the addition of an enclosed patio, it normally must be approved by the HOA’s board.
Time consuming: If you were nominated or chosen as a member of the HOA, you will need to spend a large deal of your time by attending calls of tenants or other owners and attending meetings of the board and also dealing with necessary parties in relation to the premises.