Homeowner Associations (HOAs) have become more prevalent in recent years than ever before as people turn to the community lifestyle. But, many homeowners don’t think about what a community does beyond maintaining and protecting property values. It’s surprising how many homeowners don’t know what their community can do for them…and vice versa…what they can do for their community.
- HOAs will collect either monthly or yearly fees from everyone who lives in their borders.
- Homeowners associations are run by boards of homeowners who live within the community. These board members are usually elected by the rest of the community’s homeowners and hold regular meetings to discuss issues and make decisions for the better of the community.
- The HOA is watched over by this board, they will also ensure that homeowners follow a set of established rules— for instance, if you can have pets or if you can install specific landscaping features.
Alliance Credit Counseling
10720 Sikes Place Suite 100
Charlotte, NC 28277
(888-995-7856) / (704-341-1010)