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Understanding Homeowners Associations

About 20% of today’s homeowners live in planned developments governed by Homeowners Associations (HOAs).  When you live in one of these communities, you automatically become a member of the association and are required to pay scheduled dues and adhere to their rules.

What do the fees cover?

HOA fees help maintain the quality of life for your community and protect home values for all residents.  The fees they charge vary significantly from one HOA to another and depend on how much it costs to operate your development and fund capital reserves.

These costs can depend on a variety of factors, including the type of home you have, the amenities your HOA offers, and the maintenance and insurance for common grounds.

What are the rules?

To help protect your home’s value, each HOA has an established set of governing rules all residents must follow. The rules vary from one HOA to the next, but can include:

  • Paint colors for your front door
  • Types of trees and shrubs you can plant
  • Pet policies
  • Parking policies

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