Georgia is a homeowners’ association hotbed
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With 11,200 housing communities in Georgia, many home shoppers need to factor in homeowners association fees as part of their purchase price.
Why it matters: Homebuyers looking at condos or townhomes for their lower prices might not realize HOA dues can run into the hundreds per month and can change over time.
Between the lines: HOA fees cover maintenance and amenities like pools and gyms, among other things keeping the community running.
- They can also increase to pay for flooding, broken elevators, and other disasters and fixes.
Zoom in: HOAs can go overboard. In November, residents told Democratic state lawmakers that their associations buried them in fees, or the leaders allegedly stole funds, the AJC reported.
- In April 2023, an HOA in Buford told a resident to remove solar panels from his roof, the outlet reported.
State of play: State Sen. Donzella James, D-Union City, has proposed several measures to study and regulate the organizations, though none have moved in the GOP-controlled legislature.
Be smart: Condo buyers should pay close attention to the building's age, condition, location and finances, Clare Trapasso with Realtor.com tells Axios.
By the numbers: An estimated 2.3 million Georgians live in communities, subdivisions and neighborhoods governed by HOAs, according to the Foundation for Community Association Research.
- According to the organization's 2021 data, HOAs in Georgia collected roughly $3.2 billion annually from residents.
What's next: If your dues change, the association board should report that in the community newsletter, website, notices or at meetings, according to Thomas M. Skiba, CEO of the Community Associations Institute.
- Typically condo fees don't go down unless a special assessment — extra fees charged under unforeseen circumstances — ends or the building gets an influx of cash, Trapasso says.
Go deeper: How much owning a single-family home really costs in the U.S.