A new set of Texas HOA legislation recently passed by the House and the Senate will soon change various Homeowners Associations' (HOAs) operations.
“What these bills do is provide just that balance between private property rights and community standards,” broker and agent of Acquisto Real Estate Shana Acquisto said.
The HOA reform laws derived from a pair of companion bills in the House and Senate, immediately sparking changes for over six million property owners who belong to an HOA across the state, DFW reports.
Among them is a $375 cap for a resale certificate and a $75 cap for certificate updates. In addition, all of those fees will need to be disclosed on the front end of a purchase. Prior to the reformations, no cap has ever been enforced.
In addition to the cap, organization tools such as agendas, minutes, managing documents will now be required, and will be published online for public access. According to DFW, the changes also include a mandatory appeals process when a documented HOA violation occurs.
“We as realtors will be able to have access and a place to go to know what these fees are upfront rather than getting down the road,” Acquisto said. “So it’s something they are going to know upfront and could be negotiated in.”
The regulations will also limit HOA noard members’ involvement beyond their assigned duties, prohibiting spouses from participating in each other’s committees.
“Forcing them to be more forthcoming with this information will make people feel a little bit better because everyone wants their property to be protected and their values to be protected,” Acquisto said.