Homeowner and community associations in San Francisco are responsible for maintaining a neighborhood in a planned development or a building such as a community of condominiums and townhomes. In the San Francisco market, we see mostly condos making up our HOAs, but there are also single-family communities with an association and corresponding fees.
HOAs are governed by a set of Covenants, Codes, and Restrictions (CCRs), and homeowners are required to be members of the association and pay annual, quarterly, or monthly fees. The fees and their corresponding services will vary from association to association.
California does have HOA laws in place to protect the rights of homeowners within those associations, and
San Francisco property managers are responsible for working with owners, tenants, and the HOA that the property is in. When you’re investing in a property that’s part of an HOA or you own and rent out a home in an association, you need to understand what your requirements and responsibilities are.
Benefits of HOA Communities for San Francisco Property Management
Before you worry about whether HOAs are worth the trouble and the extra cost, consider the benefits of buying a home in this type of community. You will have common areas and landscaping maintained, and sometimes trash, water, and other utility bills are included. Many
HOA communities sponsor and organize community events, which can help residents feel more involved and neighborly.
A good HOA will also provide and maintain amenities like fitness centers, clubhouses, and pools. Insurance coverage for the building will be included in HOA dues, and there’s a good chance your property values will be sustained and even increased, thanks to the requirement that everyone in the community adhere to standards of appearance and behavior.
Questions to Consider with HOA Properties
If you’re planning to rent out a property in San Francisco, you want to make sure you’re allowed to do that before you buy a home in an HOA. Some communities limit or completely prohibit rentals. Find out if there are restrictions on rentals under 30 days or if there’s a limit on how many times you can change tenants. Some communities will allow only a certain percentage of their homes to be rental units, and you’ll want to make sure there isn’t a waiting list when you buy. Otherwise, you’ll be left with a property that can’t earn rental income right away.
It’s also important to see a copy of the CCRs and all the
rules and regulations that pertain to the community. You’ll want to share those with tenants and make sure your lease agreement reflects them. Any violations made by your residents will reflect on you, as the homeowner. Be prepared to enforce the requirements and the fees and penalties that come with noncompliance.
San Francisco Property Management Services in HOAs