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An HOA or homeowners association is a group of homeowners who share a common interest in a community.
Often we think of condominium complexes when we talk about HOA’s. But some neighborhoods are governed by an HOA.
The necessity arises for an HOA when homeowners have a shared interest in common areas. In a condominium complex, it could be pools, decks, yards, play areas, parking lots, roads, etc…
In a single-family neighborhood, it could be a front entrance, watershed areas, roads, sidewalks street lamps, etc…
With the common interest, also comes ownership and a financial stake. The HOA will govern the community by providing financial management, maintenance and rules to provide peaceful enjoyment for all.
Find out 7 common questions asked about HOA’s
