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UNDERSTANDING
YOUR HOA & BOARD
OF DIRECTORS
A homeowners' association, also called an HOA,
is a non-profit organization set up to help run,
manage, and maintain a neighborhood, building,
or another collective of homes. Residents in
an association pay fees on a regular basis—
usually monthly, quarterly, or annually—for daily
operational expenses and reserve funds.
To function effectively, an HOA is led by a board
of directors. These leaders are authorized to
govern the community on behalf of residents
and have a fiduciary duty to make decisions
that benefit all residents, not just a single home.
Some of their top duties include:
• Administering association business
• Maintaining shared property
• Enhancing residential real estate
development
• Establishing a system of property rights
• Creating and enforcing rules and regulations
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