what is hoa mean

HOA stands for Homeowners Association, which is a private association-like entity in the United States, Canada, The Philippines, and certain other countries. HOAs are usually formed within communities or neighborhoods of single-family homes or multiple-unit buildings, such as townhomes or condominiums. The purpose of an HOA is to oversee the management of certain residential communities, maintain sets of rules and regulations, such as noise level restrictions, the upkeep of amenities and home appearance, and protect and improve property values for those living in the community. HOAs are typically run by resident homeowners, unpaid volunteers who are elected to a board of directors that oversees the HOAs management. Homeowners should expect to pay anywhere from $200 to $2,500 or more per year in HOA costs and fees, or assessments, depending on the amenities offered by the community.