what is hoa

HOA stands for homeowners association, which is a private association-like entity in the United States, Canada, The Philippines, and certain other countries. It is typically established within communities or neighborhoods of single-family homes or multiple-unit buildings, such as townhomes or condominiums. The responsibilities of the HOA can vary based on property type, but it generally makes and enforces rules regarding the properties within its jurisdiction. HOAs are typically run by resident homeowners, unpaid volunteers who are elected to a board of directors that oversees the HOA’s management. The main functions of an HOA are to manage the community, provide services for residents, and enforce rules. Some of the services provided by HOAs include maintenance services, insurance policies, and amenities exclusive to residents such as a clubhouse, a swimming pool, a fitness center, or a coworking area. While living in a community run by an HOA can have its pros and cons, the rules set in place are designed to preserve the neighborhood and help all the homes maintain their property values.