HOA FAQs
Below are some of today's most frequently asked question regarding HOAs. These answers provide a good
baseline, but remember: all communities are unique—you should always consult local laws for the most
accurate information.
1. WHAT IS A HOMEOWNERS' ASSOCIATION?
An HOA is a nonprofit organization that's set up to help manage, and maintain a neighborhood, building, or
collective of homes. People who belong to an HOA pay annual or monthly dues which the HOA uses to maintain
shared spaces and carry out other association duties like rule enforcement, meeting management, and financial
planning. An elected board of volunteers runs the HOA on behalf of all community homeowners. The HOA
board works together with community partners, like a Community Association Manager, or CAM, to ensure the
responsibilities of the association are executed according to their rules, regulations, governing documents, and
all applicable local, state, and federal laws.
2. HOW MUCH WILL AN HOA COST ME?
The fees that your HOA charges can vary depending on where you live and the amenities the community offers.
The average monthly HOA fee is somewhere around $125, but expect to pay more for a condo or townhome
where HOA fees also include insurance and maintenance for buildings with
shared walls. Before purchasing a home that's part of an HOA, do your
homework. You can work with your realtor and the HOA board to identify
exactly how much the particular HOA will charge each month and what those
fees cover.
