Neighbors: We Can’t Live With Them And We Can’t Live Without Them!
There are some things in our lives that just require a little TLC. Neighbors are one of them! Whether you love them or not, your neighbors do affect the value of your property, both positively and negatively.
Last week, we discussed neighbors that have a negative impact on our home’s values. Those neighbors are a little less ‘manageable’ than neighbors with whom we can reasonably work to address a ‘bad neighbor’ situation. Some are faced with noticeably poor upkeep of their neighbor’s landscaping, exterior painting or yard ‘clutter’ as well as non-payment of HOA dues.
Poor landscaping of your home or your neighbors has been shown to also have an impact on surrounding home values. Virginia Tech University released a report concluding that the value of a home can be affected by 5% to 10% with regards to lawn care.
If your neighbor is delinquent with their HOA (Homeowners Association) dues, this can also bring de-value the surrounding homes, especially in townhome or condo communities. These homeowners generally do not understand the significance of an HOA and how imperative it is that all members contribute their share to maintain the real estate values as a community.
What can you do about neighbors?
Sometimes leaving a nice note in the offending homeowner’s mailbox really does work to get their attention. We often get caught up in our busy lives and know that, for example, the yard’s condition is subconsciously bothering us but, don’t realize that our neighbors are being effected as well. If the nice note doesn’t work, your property manager (HOA management company) can be notified and they will send more ‘official’ letters to the homeowner. If this doesn’t do the trick, revocation of the ‘bad neighbor’s’ community rights such as use of community amenities may strike a chord and if that doesn’t, your HOA’s management company can work with their attorney to pen a more authoritative document to the homeowner.
Local governments may also intervene to assure that the homeowner is in compliance with their ordinances. More severe consequences may be necessary including but, not limited to attaching a lien to the property if the government has to pay for services to rectify the situation (such as a lawn care service).
If HOA dues are unpaid, the offending neighbor can be foreclosed upon, should their dues be in arrears for a specific period of time, which varies according to the HOA bylaws. The unpaid dues not only affect the ‘good neighbors’ but, the cost of legal fees is an expense with which no HOA wants to be burdened.
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