When rental property is located in a Homeowner Association (HOA) community, the responsibilities associated with the area often fall to the property owner and not the renter. Rental property management in Fort Worth, TX needs to fully understand the implications of the community’s regulations and rules, and needs to clearly communicate to both the owner and the renter what their individual responsibilities are with the community.
Knowing the HOA Rules
Homeowner Associations have individual fee schedules and property maintenance guidelines. When you have a property in a HOA community, you also have paperwork, rules, and regulations to follow. Tenants need to clearly understand how the homeowners association affects them. Documentation of the renter’s responsibilities with the associations should be clearly outlined in the leasing agreement.
Some Homeowner Associations require a specific screening of tenants by the association before a tenant may lease a property. If this is a requirement, both the homeowner and representatives of the HOA will review tenant applications or participate in interviews. If the homeowner fails to properly screen tenants before referring them to the HOA the property may remain vacant for longer. Fort Worth property management with experience vetting potential tenants can help keep this process moving by fully understanding the requirements of the HOA and then using their experience to quickly work through potential tenants to find a candidate that satisfies both the homeowner and the HOA.
Residents of HOA communities can be concerned about the care of the neighborhood grounds and facilities by tenants. Because of potential extra wear and tear on the community amenities and extra administration work, an HOA may also charge move in and move out fees with a rental property. Fees are usually reasonable and are covered by the property owner. Your Fort Worth property management company should understand the different fees associated with rental property to avoid confusion with rent rates and tenant fees.
Homeowner Association rental property management in Fort Worth, TX comes with its own set of rules and regulations. These rental situations take more time to understand both HOA rules as well as the local and federal rental laws. Specialized is your partner for all rental situations, including those in a Homeowner’s Association community. With our strong referral program and leasing knowledge, your client will appreciate your real estate skills with buying, selling, or property management in Fort Worth, TX.