What is an HOA?

Written By: Miller and Associates Realty On: 18th March 2015 Under: Uncategorized

Many buyers can be confused about Home Owners Associations (referred to as HOA) and their role in condo/home ownership. An HOA is an organization in a condo complex, planned community or subdivision that makes and enforces rules for the property.  The HOA also collects the monthly or annual dues/fees and takes care of the common areas (pools, tennis courts, etc).  An HOA can levy special assessments on homeowners for unexpected repairs.

HOAs are responsible for the enforcement of rules and regulations of the guidelines determined by the HOA or governing board. Some HOAs are strict about what the homeowners can and cannot do with their property; others are more tolerant and focus on keeping the property values up by maintaining common areas.

It is important to understand your rights and responsibilities under the HOA guidelines for your community.  Ask for a copy of the HOA’s covenants, conditions and restrictions before you buy.