Home » What is a Homeowners Association

What is a Homeowners Association

A group that manages a shared housing complex. Condos, co-ops, and cul-de-sac developments will usually have an HOA board that enforces the community rules and provides building maintenance. The HOA will provide funding for repairs, grounds maintenance, and security for the building by collecting money from the homeowners. Within two to five days of putting in an offer on a home with an HOA, buyers get access to the covenants, conditions, and restrictions (CC&Rs) document that lists HOA rules and the operating budget.