Hope Ridge Homeowners Association
About our Association
What is an HOA?
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The Hope Ridge Homeowners Association (HOA) is a legal entity that governs the Hope Ridge residential townhouse subdivision. HOAs are created through a legal document called Declaration of Covenants, Conditions, and Restrictions that is recorded with the property deeds.
There are two other governing documents: (1) the Rules & Regulations, which are adopted by the Board and spell out in more detail what is allowed by the Declarations, and (2) the Bylaws, which spell out how the Board is to operate and what are its responsibilities and powers.
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When you buy a home in the Hope Ridge community, you automatically become a member and agree to abide by these documents. The HOA has legal authority to enforce its regulations and collect fees.
The Hope Ridge HOAs operates with a board of directors elected by the homeowners. The board has five members: president, vice president, secretary, treasurer, and member-at-large. Board members are volunteers from the community who serve terms of three years. They make decisions about community policies, budgets, and rule enforcement.
The HOA collects monthly dues from all homeowners to fund their operations. These fees cover maintenance of common areas, lawn care, snow removal, trash collection, and various other maintenance items as specified in our Declarations. [See “Responsibilities of the HOA and the Homeowner.”]
The HOA also maintains reserve funds for major repairs and improvements. It creates annual budgets and may levy special assessments for unexpected expenses.
The HOA enforces community standards by reviewing and approving home modifications, and by monitoring violations. Prospective owners should take time to read through the pertinent sections of the Declarations as well as the Rules and Regulations. Violations can result in warnings, fines, or in extreme cases, liens on properties.
To homeowners who have never lived in a community governed by an HOA, some of the restrictions and rules may seem burdensome. However, the Hope Ridge HOA’s primary goal is to preserve a community that is enjoyed by the residents and attractive to prospective buyers.
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Some Important Things to Know Before You Purchase
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