The group of owners that administer the rules and regulations at a resort.
For a real estate development which has common areas that are jointly owned by all of the owners, the owners form a homeowners association. Each owner pays a monthly fee to the HOA for upkeep of the common areas. Applies to condos and PUDs.
Organized group of property owners in a condominium, Planned Unit Development (PUD), or subdivision, assigned to manage common areas and enforce association rules and regulations.
A nonprofit, formal group of condominium owners who desire to manage, maintain and improve the developments common areas.
A nonprofit association that manages the common areas of a planned unit development (PUD) or condominium project. In a condominium project, it has no ownership interest in the common elements. In a PUD project, it holds title to the common elements.
An association of homeowners within a community formed to improve and maintain the quality of the community. An association formed by the developer of condominiums or planned developments.
In many of our new developments an association of all the homeowners is formed. This association is responsible for enforcing the rules and regulations of the community. Also, this group of homeowners maintains the common area grounds, landscaping and snow removal of their development. A monthly fee per each homeowner funds the maintenance budget. The association can decide amongst themselves how to best utilize the money and benefit the area in which they live.
A group established by local homeowners to maintain the quality of a community. When purchasing a property, Home Owners Association fees and covenants may apply.