Are you buying an investment property in a subdivision with an HOA? Here is one of the most important but also most overlooked pieces of advice: Make sure the HOA has your mailing address.

That seems simple enough. It may also seem rather insignificant. With nearly twenty years of experience in property management in Austin, Texas, Crosstown Properties is here to tell you that making sure the HOA has your mailing address is not trivial advice!

What’s the big deal you ask? Well…

Did you know that an HOA can actually file and take possession of your property due to missed quarterly or annual HOA assessments? Even if you do know that HOAs have this degree of power, you may be thinking it’s an extremely unlikely situation – just don’t miss the assessment!

It’s not actually so simple – what if the property is an investment occupied by tenants and are also unaware that they receive mail intended for you, the owner of the property? In this case, the announcement of the assessments would be thrown in the trash. Unattended assessments can build up and communication from the HOA to the owner can go unseen to the point of taking possession.

It’s not just the HOA.

When you are buying an investment property, it is very important that you and your agent diligently ensure that that title company has the correct mailing address for you – this is NOT the address of the property being purchased! If you miss this important clarification, all sorts of communications down the line will be incorrect and cause serious and unnecessary challenges.

The title company communicates your contact information to the tax assessor, the HOA, and every involved entity. Extremely important documents are issued by these entities and if your mailing address is listed as the property address, you could very easily miss the HOA annual assessment or a bill from the county tax assessor for your county taxes.

Save yourself and your property manager the challenge of reclaiming possession of your investment property due to an easily avoidable mistake during the purchase process – make sure the title company has your correct mailing address!

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