These are the search results based on your query.
Homeowners Association
A homeowners association (HOA) is a private, legally incorporated organization that governs a residential community, such as a subdivision, condominium complex, or planned neighborhood. Its primary role is to set and enforce rules and regulations for the properties and homeowners within its jurisdiction to maintain community standards and property values.
Key functions of an HOA include:
- Managing common areas such as parks, swimming pools, landscaping, and other shared amenities.
- Enforcing community rules and bylaws, which may regulate aspects like exterior home appearance, landscaping, and noise levels.
- Collecting dues or fees from homeowners, which fund maintenance, repairs, and services like snow removal or security.
- Protecting property values by ensuring that homes and common areas are well-maintained and that residents adhere to agreed-upon standards.
Membership in an HOA is typically mandatory for homeowners within the community, meaning they must comply with the HOA's governing documents (such as covenants, conditions, and restrictions, or CC&Rs) and pay regular fees.
While HOAs help preserve neighborhood quality and property values, they also impose certain restrictions on homeowners, which can limit personal choices regarding property modifications or use.
In summary, an HOA serves as a governing body that balances individual property rights with community standards to maintain a desirable living environment and protect real estate investments.