Homeowners’ Association (HOA)
An HOA is a legal entity set up to manage and maintain the neighborhood.
Its members usually consist of homeowners in the community. The original
developer of the community typically creates the HOA. The rules of the
community are typically set forth in what is called the Declaration of
Covenants, Conditions, and Restrictions (CC&Rs). The main functions of
the HOA are:
* to collect assessments and fees, and
* to enforce the rules of the community.
HOA communities may consist of single-family homes, townhomes, or condominiums.