Lakewood now has a property owner's association. All the Lakes and common areas have been transferred from Mr. Kirk to the property owners association. The association now requires annual dues of $200 from each homeowner in the Lakewood Subdivision. Naturally there are no requirements stated in the deed or covenants which require membership in the association, however a person cannot legally use the lakes without being a member since they would be trespassing on private property.

The main purpose of the association is to enhance the quality of living at Lakewood and help maintain the beautiful area thus increasing property values.