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An HOA (Homeowners Association) is an organization that governs the affairs of a real estate development owned by multiple parties, such as an apartment building or a planned community. Here are some key functions and responsibilities of an HOA:
- Enforcing Rules and Regulations: HOAs ensure that residents follow community guidelines. They monitor aspects like lawn maintenance, architectural changes, and adherence to noise policies.
- Maintaining Common Areas: HOAs are responsible for the upkeep of shared amenities like parks, pools, and common spaces.
- Managing Finances: HOAs collect fees (known as assessments) from homeowners to fund operating budgets and community maintenance.
- Approving or Changing CC&Rs: HOAs create and enforce covenants, conditions, and restrictions (CC&Rs) that outline what homeowners can and cannot do within the community.
- Holding Meetings and Documentation: HOAs organize meetings, record communications, and maintain essential documents.
Remember, each HOA may have specific rules and guidelines, so it’s essential to review your community’s governing documents for precise details! 😊 You can find ours under our “Rules and Regulations Page”