Everything You Should Know about the HOA
Posted by Tom Crimmins Realty, Ltd. on
What is the HOA?
The Homeowners' Association (HOA), is an organization that is common among many developments such as gated communities, or housing subdivisions. The association is generally comprised of homeowners who have volunteered to serve as members of the HOA board. Therefore, they are responsible for providing regulations for the maintenance of the community, that residents within the community adhere to. With these regulations also come HOA fees, which pay for the upkeep of common areas around the neighborhood. According to the Community Associations Institute, about 20% of Americans live in a community that is regulated by a homeowners, condo associations, or co-op board.
What Exactly Do HOA Fees Cover?
The HOA fees can range from about…
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