Needing more information on a Crested Butte Homeowner’s Association (HOA) rules and costs in the Crested Butte area? The HOA is an organization inside a housing community that creates and enforces rules to benefit homeowners.
All condos, and townhouses are part of a HOA – and many single family homes in subdivisions in the Crested Butte area are part of a HOA. The homes in downtown Crested Butte are not part of a HOA but must adhere to the town code, and the Board of Architectural Review And Zoning (BOZAR). Many of the homes in Mt. Crested Butte in the older developed areas are not part of a HOA.
The Crested Butte HOA and Short-Term Rentals
There are many HOAs in the Crested Butte area that now restrict short-term rentals. This can be an important consideration for the second-homeowner buyer who is considering rental income to off-set their expenses of owning the home. The HOAs who are enforcing the short-term rental restrictions are seeking a better experience for their owners and more of a sense of community. They have found that some VRBO or Airbnb renters are not respectful of their HOA rules.
Some examples include Wildhorse at Prospect, The Links Townhomes in Skyland, Glacier Lily, the Gold Link neighborhood has a 2 week restriction per month… The Town of Crested Butte has an ordinance that governs short-term rentals and requires a homeowner apply for a business license and be subject to inspection of the home for compliance and safety. This is another great reason to connect with a trusted real estate agent early to understand some of these areas.
HOA Meeting Minutes
In addition to the importance of understanding the financial stability of the Crested Butte HOA (and whether there will be any increases in dues – or assessments). I recommend to clients to review the HOA meeting minutes. These are generally provided as part of the Docs once under contract. But if a buyer has a keen interest on two homes and can’t decide, sometimes it can be helpful to get a better understand of the HOA to help make the decision.
HOAs Fees
HOAs collect fees monthly, annually, or quarterly to help pay for common areas inside the community. Everyone in the community is in charge of paying these fees. Common areas could include swimming pools, tennis courts, and club houses. If there is a lack of funds for a repair this might add additional cost to your HOA fee. These fees can be different based on the community. Be sure to ask questions regarding fees and rules. Their goal is to help protect the property value of homes inside the community.
HOAs Rules
Therefore HOAs often will have an Architectural Control Committee together with a Design Review Committee. In the event that remodeling, or landscaping, or even fencing needs installed. This committee with need to approval all changes. With this in mind common guidelines will include a structure’s overall size, height, materials, and colors. Most have architectural restrictions which help protect mountain views, or will prevent owners from letting their homes deteriorate. The rules enforced by this group maintain your home’s value.
HOA Covenants
HOA covenants are specific rules that all residents need to follow. In general most rules are strictly enforced others are merely guidelines. HOAs can prevent your neighbor from having a used car lot in the backyard, or others from having a bright yellow front door. These restrictions can keep you from modifying your own home . Therefore, owning a house within a HOA can have it downfalls. For fear that homeowners can’t have certain pets, or park a RV in the drive way. HOAs board of directors appoints people on the committee therefore you always have an opportunity to get involved.
Before buying your home be sure to understand HOA rules and fees in the community first. Hiring an attorney to review them can give you a better understanding as well. Having an open mind on living in a community with HOA is key! Again, you might not understand the reasoning behind certain rules but they are enforced to keep your property valuable.
Final Thoughts and How Can I Help?
Contact me to help you. I have been in your shoes – as both a Second Home Buyer and Seller here in Crested Butte.
The Crested Butte area offers a wide variety of properties including ski in/ski out single family homes, ski-in/ski-out condominiums, lake and river frontage properties, golf course property, quality homes in Downtown Crested Butte, and true fine mountain homes on acreage.
To see Crested Butte Homes For Sale or search the MLS – visit ChrisKopf.com.
The Crested Butte Real Estate Market is very active. Click this link to see my monthly Crested Butte Real Estate Market Reports.
I have consistently been a Top Real Estate Agent in Crested Butte, and I appreciate the opportunity to earn your business and be your Crested Butte Real Estate Agent.
Please Contact me at:
Chris Kopf
Global Luxury Property Specialist
Coldwell Banker Mountain Properties
Chris.Kopf@CBMP.com
(970) 209-5405
