In the property context, HOA is short for homeowners association.

The concept of an HOA is that it enables owners within a particular planned unit development to maintain common property. Homeowners associations can consist of condos, townhouses, subdivisions of detached homes, or a combination thereof. The HOA will also implement rules as well as conditions, covenants and restrictions. All of these serve to preserve and enhance the community.

HOAs are managed by a board, which consist of owners. The board is voted in by owners at annual meetings, at which owners also approve budgets. Learn more in our post about why HOAs exist.

Want to learn more about your HOA?  Run a free Eli Report!