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What is a homeowners association (HOA)?

Homeowners associations (HOAs) are usually formed within communities or neighborhoods of single-family homes or multiple-unit buildings, such as townhomes or condominiums. An HOA is typically established to make and enforce rules regarding the properties within the jurisdiction. HOAs are composed of and run by the community’s residents.

What does a homeowners association do?

A homeowners association (HOA) is an organization tasked with governing the affairs of a real estate development owned by multiple parties, such as an apartment building. HOAs are responsible for tasks such as ensuring building maintenance, deciding on whether to pursue larger renovation projects, and drafting/enforcing the building’s bylaws.

Is your home part of a homeowners association?

Many homes across the United States are part of an HOA, or homeowners association. So what does that mean? In a nutshell, an HOA helps ensure that your community looks its best and functions smoothly.

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