Real Estate Terms Glossary
What is a Homeowners’ Association?
An HOA is a private organization that sets rules for communities and often charges fees for services, like pools and gyms. A homeowner’s association is a dominant organization in many housing developments in the US and exercises greater control over the use of funds and the provision of services. Note that if you purchase a property or home within an HOA's jurisdiction, you will automatically become a member and will be required to pay dues.
Examples of Homeowners’ Association
- Example 1: Properties Owners Association
- Example 2: Cooperatives
Here’s Investopedia’s definition of a Homeowners’ Association.
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