What is a HOA fee?

An HOA fee is a regular fee (usually monthly or quarterly) assessed by the homeowners association to pay for the services it provides. If you live in a condo, you may pay a similar fee to the condo association. If you plan to buy a home in an HOA, it’s important to understand how HOA fees work.

What are homeowners association fees?

HOA fees may also go by the term “common charges” or “maintenance charges.” Homeowners association fees are monthly dues collected by homeowners associations (HOAs) from property owners. HOA fees are standard for most purchased condominiums, apartments, and planned communities.

What happens if I don't pay my HOA fees?

If you don’t pay within 30 days, your fine may increase, and your HOA privileges may be suspended, denying you access to the pool or clubhouse. After that, you can expect the HOA to take legal action. HOAs have a few different legal options at their disposal if you stop paying your HOA fees.