Golden Meadows HOA

Why do we have to pay a yearly assessment?

Because its the law.  When Golden Meadows was built and developed, it was mandated by Walton County that there would be a homeowners association (HOA). HOAs have been mandated by municipalities for decades either directly or indirectly. This is often accomplished by conditioning plat or other approval on the creation of amenities such as roads, open areas, greenbelts, retention basins, etc. and an obligation to maintain them. We all agreed when we signed our contracts and purchased our our homes, to abide by the covenants. The language and laws that govern the formation and operation of the HOA are found in the covenants.  A copy was mailed out to all homeowners but if you need a copy you can print them off of the website.

As an HOA we are an extension of basic governmental functions to provide services for the good of our neighborhood.  Someone has to decide how the money we collect (the assessments) is spent.  Did you know that the HOA has to file a GA State and IRS tax return each year? 

If a homeowner decides for any reason NOT to pay the yearly assessment.  That only hurts the community.  The Board then has to do everything in its power to collect those assessments.  If the collection process is unsuccessful then the Board has no choice but to file a lien on that property.  

What is an HOA? 

(http://realtytimes.com/rtpages/19990616_hoas.htm)

What is a homeowners association and why do they exist?

Condominiums, cooperatives, planned communities and other forms of homeowners associations ("HOA") are to allow the owners to administrate and manage their community. One of the main purposes of the HOA is to enforce a set of covenants (promises) which bind all owners. The covenants are usually contained in a document called a Declaration of Covenants, Conditions and Restrictions ("CC&Rs"). Many HOAs include common property, such as pools, greenways and private roads and in the case of condominiums, usually building structure, walls, roofs, plumbing, wiring and other aspects of the building. Individual property owners are required to pay assessments (usually monthly) to enable the HOA to operate the association and maintain the common property.

Who serves on homeowners associations, what do they oversee and how are such associations governed?

HOAs are usually governed by a board of volunteer owners elected by the remaining owners. The board holds regular meetings to enforce the CC&Rs, to establish a budget, authorize expenditures, collect assessments, problem solve, and oversee maintenance of the common property. The board acts in much the same way as a corporate board of directors. Many HOAs also utilize committees to help administer the association. For example, Architectural Control Committees are commonly used to maintain architectural consistency in the neighborhood.

What kind of legal power do such associations have to enforce their rules?

The main source of legal authority allowing an HOA to enforce its rules comes from the recorded CC&Rs and Bylaws. Because the documents are recorded on the county real estate records, home buyers become legally bound by the valid provisions of these documents when they purchase their homes. Condominium and Planned Community HOAs also have the additional backing of state law, which clarifies legal authority in many ways. HOA laws may also provide additional legal authority not contained in the HOA's documents. All condominium HOAs and many subdivision HOAs are governed by specific state law. HOA actions are usually upheld in court if the authority is provided in the documents or by statute and the board acts reasonably in carrying out the authority.