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CHAPTER 1:
COMMUNITY ASSOCIATIONS
A community association, like a homeowners' association (HOA), is a non-profit
organization that's established to help run, manage, and maintain a neighborhood,
building, or other collective of homes. Designed to positively impact property values
for residents, community associations employ a self-governing system and enforce
rules and restictions.
OPERATIONS
A board of directors is responsible for association operations. Board members
are volunteers who enforce governing documents, manage finances, and maintain
common areas.
While association residents elect the board members, their responsibilities are
unique, and each community operates differently. The association's governing
documents detail specific board tasks, powers, and duties.
FUNDING
Association residents are generally required to be members and pay monthly,
quarterly, or annual fees to fund operations. Money from fees goes toward a wide
variety of uses, like:
• Upkeep of common areas and amenities
• Insurance
• Funding the reserve account
• Other shared community costs
OBJECTIVES
Associations operate like a local government, small business, and community
collective rolled into one. Their main objectives include, but aren't limited to:
• Administering the business of the association
• Maintaining shared community property
• Enhancing residential real estate development
• Establishing a system of property rights
• Creating and enforcing rules and regulations
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