HOA

Real Estate

Homeowners Association (HOA) is the governance body managing common areas and enforcing rules in many residential communities — condos, townhomes, planned developments. HOA dues fund maintenance (landscaping, pools, roofs in condos), reserves, insurance, and management. Range: $200-$2,000+/month depending on amenities and age of community. HOAs also enforce CC&Rs (Covenants, Conditions, Restrictions) covering exterior modifications, landscaping, parking, even paint colors. Buyers should review HOA financials, reserves, recent special assessments, and litigation history. Underfunded HOAs lead to special assessments (large lump-sum charges to homeowners). High HOA dues materially affect affordability and resale.