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HOA A-to-Z: A Glossary of Important HOA Terms

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3 A • Amenities: The various features and services a community may provide residents for enjoyment and convenience, like a community gym, pool, or playground. • Annexable Property: Property that can be attached, added, joined, or united with the original property defined in an association's rules. • Annual Meeting: The main HOA meeting where communities often elect new board members, present the annual budget, announce capital projects, hear committee reports, celebrate successes, and more. This meeting happens once a year. • Architectural Review Committee (ARC): A group that oversees a community's architectural standards and both resident- and board-requested modifications. • Architectural Request: A homeowner's application explaining the architectural changes they want to make to their home. • Amendment: A legally-compliant change to HOA bylaws and covenants. • Articles of Incorporation: Legal documents filed with the designated secretary of state to bring the HOA as a corporation into existence and define its basic purpose. • Assessment: Fees collected from HOA residents to fund community operations and reserve accounts. 7 6 5 4 8 9 10 11 3 2 12

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