What is Homeowners' Association?

Posted on Tuesday, May 14, 2013, 9:51 PM
Homeowners Associations are essentially necessary to maintain a certain planned development. All residents in the Developed Community are members of the Association.

The appointed officers facilitate the Association with volunteer time to conduct business affairs to ensure that the Governing Documents of such Association are met. The Board of Directors is responsible for enforcing all laws and regulations that govern their Association documents.
  
 What you need to know! ​​

While there are laws governing the behavior of HOAs, these associations can still have a powerful impact on your rights as a homeowner.  Before buying a property in a community that has an HOA you should learn the HOA's rules.  You may be able to find an HOA's CC&Rs online as well as information about what happens if you violate a rule. Make sure any online information is current. If you cannot find this information online, ask your real estate agent to acquire these documents for you or contact the HOA yourself. Pay particular attention to rules regarding fines and whether the HOA can foreclose on your property for nonpayment of HOA dues or fines resulting from CC&R violations. Also, learn about the process for changing or adding rules, and whether HOA meetings are held at a time you will be able to attend if you wish to do so. If the rules are too restrictive, consider buying elsewhere.