Las Vegas, Nevada Real Estate Agent’s Las Vegas Homes, Condos, Land, Commercial Real Estate and Personal Blog

The newer Las Vegas residential properties are built in subdivisions.  Subdivisions are real estate lingo for common-interest development. The fastest growing form of housing in the United States today is common-interest developments, a category that includes planned-unit developments of single-family homes, condominiums, and cooperative apartments. A homeowners’ association is the governance function of a common interest development. This governance, created by the real estate developer, is transferred to the home or condo owners upon selling out of the project. HOAs are subsequently governed by the owners and officers are elected by owners. HOAs possess the authority to enforce the covenants, conditions, and restrictions of managing the common amenities of the development. Most homeowners’ associations are non-profit corporations, and are subject to state statutes that govern non-profit corporations and homeowner associations. One interesting point is that in the Las Vegas Valley HOA rules can supersede state or county laws and if the restrictions in the HOA rules are more severe than state law, HOA rules apply.

I work at Realty Executives, our broker is Jeff Moore and his wife and co-owner of the brokerage is Fafie Moore. These guys are not in this business just to collect a monthly rent check and unlike many brokers here, do their utmost to teach Realty Ex agents and show them the way to success. Mrs. Moore started a monthly lunch meeting for her agents and today was the first meeting. She paid the bill for over 20 agents. Brokers like these are a find.

 One of the main topics of conversation was horror stories about the intrusive nature of some HOAs in Las Vegas and their overzealousness to enforce every little rule. HOAs can fine the home or condo owner and if the owner refuses to pay, they have the power to put a lien on the property and eventually foreclose on it. Although HOAs are essential for keeping up the community and keeping the property values high, an out of control HOA with power hungry officers can turn the home ownership dream into a nightmare. As a part of the due diligence, the perspective home, condo, or investment property buyer is given the CC&Rs (covenants, conditions, and restrictions) of the community along with their last meeting’s minutes. Here is where you can get a feel for the HOA by checking how many owners were fined and for what. You should also check with a few neighbors, and believe me if they have been bit by the HOA, they will tell you. Reading the CC&Rs is also recommended, although almost no one does it. Checking on the character of your future HOA is a simple act which saves you a ton of headaches in the future.