Most HOA fees range between $200 to $400 each month in the U.S., although this is only a simple average, and reality is much more complex. Though Utah itself also has details surrounding HOA fees that you might not be aware of. As a landlord or resident, do you already know what these are and how the homeowner enforces them?
If not, we can help you out. The following article should detail many of the facts you might need to know about this specific location you might not find in other places. So, read on to not get caught out.
1. Most Common Fees for HOAs in Utah
South Jordan, UT, has some of the lower HOA prices in the country. While, as above, most people pay around $200-$400, real estate in Utah will face around $135 per month instead. Although, this is not always the case.
With certain locations, you might instead need to pay a percentage of the rent for a location if you are letting or renting. Depending on what the HOA rental contract states, you might find it can range from 8%-10% of the rent. If you use a high-quality property manager, this may be on top of their own charges.
2. Factors That Affect Your HOA Fee in Utah
Sometimes HOA fees increase, although this can never occur too fast, or there might be pushback. Some of the many things that might affect your HOA fees include:
Inflation. As the worth of the dollar goes down, an HOA is likely to increase its fees.
Increased wages. Increased wages mean HOAs might start to charge based on the average wages of its population.
Community location. A wealthier residential area might face higher charges. This is often due to increased numbers of community resources, such as security.
3. Should You Have Any Legal Concerns
There are a few things you need to consider to avoid coming into legal trouble. Few are unique to South Jordan, UT, but are still important to know.
What Defines HOA Fees in Utah Real Estate?
HOA fees should be written transparently in your residence's governing documents. These will ensure you understand the legal steps an HOA will take if you do not pay, too.
The information should also include a breakdown of what the HOA uses fees for so that you can hold them accountable if these things do not occur.
Rights and Responsibilities of HOAs in South Jordan
Check the HOA covenants in your area to understand both your responsibilities as well as theirs. If they fall behind, you should follow up, although bear in mind they will do the same to you.
Ensuring You Understand HOA Fees
With this article, you will learn how to not get caught out with unexpected HOA fees or the rules related to charging them. Still, running an HOA can be a complex process, and you might want some help doing so.
We have years of expertise as managers of many HOA communities. We can work with the residents to set up an organization they can all believe in and perform all the daily work others do not have time for. So, get in contact with Salt Lake Association Management and learn how we can take a lot off of your shoulders today.