What is a Property Owners Association Fee / Dues?

 

A property owner's association fee (POA dues) is an amount of money that must be paid (annually) by owners of certain types of residential properties. POAs collect these fees to assist with maintaining and improving properties in the association.

 

What the POA fee covers?

 

POA fees usually cover services that benefit the property’s common areas and owners’ interests. You pay POA dues in addition to the real estate taxes and property owner’s insurance for your own property.  In addition to taking care of maintenance and repair issues, POAs also create rules related to parking or the use of common areas. In neighborhoods of single-family homes, the POA may create rules on how often members can paint their houses, which types of fences they may have and/or how they must maintain their landscaping or related issues.  For more information, please refer to the Renovations & POA Approvals section.

 

What Happens If Someone Doesn't Pay POA Fees?

 

If an owner of property governed by an POA does not pay the required annual fees as well as any special assessments, the POA can take action against the delinquent property owner. The actions depend on the contract between the POA and the property owner. Some contracts dictate that the POA can charge late fees to the property owner, while others allow the POA to initiate a lawsuit, place a lien on the property, or foreclose on the owner's property to collect the delinquent payments.

 

If a member fails to remit payment to the POA, it affects the other members of the community and will lead to forfeiture of the use of common area privileges (pool, pickle ball court, etc). Common areas may suffer due to lack of funds, or other members may be assessed special fees to cover maintenance costs or other expenses.

 

 

How Much Are POA Fees?

 

POA fees for The Villages at Lafayette Park are currently $710 annually (depending on late payment or delinquency).  In the future, fees may vary based on what the POA provides. Generally, the more services and amenities, the higher the fees. Additionally, the buyer should add the cost of the fee into their prospective budget when determining whether or not they can afford a property.

 

For additional information on POA fees and maintenance, see Article 5, pages 12 to 16 in the POA Covenant PDF file located in the “Documents & Forms” tab.