1-888-800-1042
Kaman Cusimano Logo

Condo | HOA Lawyers

Benefits of Living in a Deed Restricted Community Association

Think of the fresh paint, uniform building designs, uncluttered porches, tidy lawns, and the overall clean appearance of a deed restricted community association.  These are the qualities that people consistently seek when purchasing a home.  These qualities also maintain property values.  While deed restrictions sometimes have negative connotations, more importantly they allow associations to fund maintenance projects and keep the association beautiful.

Other benefits to living in a deed restricted community association include:

  • Financial planning.  Community associations help owners maintain a standard of living, stay on budget, and save money.  Most community associations have a reserve fund that saves for major future expenses for maintenance or repair of capital items.  For example, an association will have money saved in a reserve account for future roof replacement.  This then eliminates the burden on an individual owner to separately save for roof replacement
  • Association governance.  Volunteer board members are elected annually by owners to oversee the association’s responsibilities and hire service providers, such as managers, landscapers, and attorneys.  Board service to owners is strictly for the benefit and in the best interest of the entire community.
  • Increasing Property values.  Well run associations actually increase property values.  Well maintained and properly financed community associations are great investments.
  • Association amenities.  Many associations have a pool, clubhouse, community playground, or green spaces available for all of its residents.  Such amenities are paid for with the common assessment and enhance community association living.

When purchasing a home, it is important to consider the many benefits of living in a deed restricted community association.  If you are presently living in, or serving on the board of a community association, it is just as important to remind yourself and realize these benefits.  Without an association, you may have to look at your neighbor’s unkempt lawn, purple shutters, and cluttered porch with no remedy available.  Living in a community association is and of itself, a true benefit!

Categories

Three bars icon gold

Recent blog Posts

Three bars icon gold

Partner Shannon McCormick appointed to the Northern Ohio CAI Board

We are thrilled to announce that Shannon McCormick, Partner, and Chair of our Cleveland Office, ...
Read More →

Attorney John Izzo presented at CAI Central Ohio Chapter’s Annual Meeting

On January 25, 2024, Attorney John Izzo took the stage as a distinguished panelist at ...
Read More →

Borrow or Assess? A Guide to Community Association Loans

When the time comes for major capital item repair, replacement, or restoration, an association has ...
Read More →

Partner M. Katherine (“Kate”) Bushey elected to CAI’s Business Partners Council

Partner M. Katherine (“Kate”) Bushey has been elected to CAI’s Business Partners Council. The Business ...
Read More →