When entering a listing into Matrix, having a solid understanding of the fields and options available to you will help you enter as many details as possible, as accurately as possible. And doing this will ensure your listing ends up in the hands of as many interested buyers as possible.
For example, the HOA portion in the Community tab of several listing input forms can be a little tricky if you’re not familiar with HOAs and related information.
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Here’s how you know when to mark ‘Yes’ and when to mark ‘No’ on HOAs or management companies.
To the left of every field in Matrix, there’s a gray circle with a white question mark. If you’re unsure of what information to place in that field, click the question mark to read the ‘General Field Help’ tip. Not all fields have a General Field Help section, but some of the trickier fields do.
For example, if you click the question mark next to the option “Are there HOAs or Management Companies?” you’ll receive this pop-up box:
The explanation in the pop-up box will help you understand when to select ‘Yes’ and when to select ‘No’ on HOAs or Management Companies.
Choose ‘No’ if the HOA or Management company is voluntary or non-existing. Additionally, choose ‘No’ if there are not any rules governing the area other than normal city laws/rules.
In some communities, there isn’t an HOA fee, but there are governing docs like Covenants, Conditions & Restrictions (CC&Rs) that tell the homeowners what they can and can’t do. If the property you’re listing has any type of governing document, you should mark ‘Yes’ in the HOA field.