A home owners association (HOA) in the Omaha NE and surrounding areas is an organization that’s created by a real estate developer when planning a new development project.
This management group sets the rules and regulations of a community. It’s in charge of the upkeep of common areas within the development such as the community room, the swimming pool and landscaping. They also provide services such as mowing lawns, shoveling snow and the like.
And by the way, that’s a huge relief for our mature friends! (or anybody that doesn’t want to perform any of that kind of labor to a property.)
As a real estate investor, HOA fees are something you have to account for in your holding cost estimates. And don’t forget there may be other regulations you have to follow when rehabbing the property.
For example, when rehabbing your recent purchase, some HOA’s have rules when it comes to the exterior colors that are used when painting a home. Or the height of a privacy fence, for example.
Depending on the HOA and the subdivision, the monthly cost for HOA fees in the Omaha NE area as low as $6 to as high as $200+ per month per resident.
If you have more questions about what an Home Owners Association(HOA) is or does, I’d suggest contacting a real estate agent that has listings in that particular subdivision for more information. Of course you can just Google it.
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