260: HOA Pros & Cons

Hustle Humbly Podcast

Alissa Jenkins & Katy Caldwell

Entrepreneurship, Realestatepodcast, Realestate, Realtoreducation, Realtor, Business

4.9 • 809 Ratings

🗓️ 29 July 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Living in a place with a Homeowners Association(HOA) comes with many pros and its share of cons. Whether you're a seasoned Realtor or a first-time HOA homebuyer, understanding HOAs is crucial. We'll explore what HOAs are, how they operate, and what you need to know before buying a property within an HOA community. We are sharing the financial obligations including assessments, dues, and fines. We will dig in on restrictions and what to look out for as an owner or buyer in an HOA run community. Listen in to hear the challenges of being on an HOA board, potential mismanagement of funds, and the reality of thankless board positions. Plus, we'll touch on the drama that often unfolds inside neighborhood Facebook groups. Come back in two weeks when we share real-life HOA stories and thoughts from our listeners!

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Transcript

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0:00.0	The structural engineers are having to come out and do a full report.
0:05.0	The next meeting, they would make another one like a few weeks away.
0:10.0	75% had to show up in order to vote.
0:14.0	Then the city's gonna be like, I'm back on you now.
0:17.0	I can't get in there to maintain these.
0:20.0	That's you.
0:31.4	It's a Christmas miracle. This condo is actually in my price range. And within 10 feet of their front door,
0:38.0	built a huge two-story house. Hi, y'all. Welcome to Hustle Humbly.
0:41.9	It's Alyssa and Katie, and we are two top-producing realtors in the Baton Rouge market.
0:45.5	We work for two different companies where we should be competitors, but we have chosen community over competition.
0:47.1	The goal of our podcast is to encourage you to find your own way in business.
0:50.8	So stop comparing yourself and start embracing your strengths.
0:56.6	Hi, Alyssa. Hey, Katie. Welcome to episode 260. HOAs, the pros and cons. Yeah. All about HOAs. I don't know. We've never talked
1:03.4	about HOAs before. And I think that with all the changes in insurance we've been having the last
1:09.5	two years, it's good to revisit
1:12.1	and understand what our responsibility is as agents representing clients. Okay, great. I'm going to
1:18.1	tell you what an HOA is first. Please do. Her, my friend, the Google Machine. Okay. Okay.
1:24.5	A homeowners association, HOA.
1:28.4	So I also think it's funny because homeowners is technically one word.
1:32.6	So it would be an HA.
1:34.9	Right.
1:35.5	Whatever.
	...

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