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What is a homeowners association and why do they exist?

April 26, 2017Association exist homeowners

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What is a homeowners association and why do they exist?

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A. Homeowners associations (HOA) are formed to allow owners to manage their community. One of the main purposes of the HOA is to enforce a set of covenants (promises) which bind all owners. Individual owners are required to pay assessments to enable the HOA (via the board) to operate the association and maintain the common property.