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Understanding Homeowners Associations (HOAs): Benefits and Drawbacks
Posted by Infinity Admin on
A homeowners association (HOA) is a legal organization that manages and regulates a community of residential properties. It is typically formed by a developer when building a new subdivision, and the HOA becomes the governing body once a certain number of homes have been sold. Homeowners in the community are required to pay regular dues to the HOA, which is then used to maintain and improve the shared spaces and amenities within the community.
HOAs are designed to maintain a certain standard of living within the community and to protect property values. They are responsible for maintaining the common areas of the community, such as parks, landscaping, and recreational facilities. They may also establish and enforce rules and regulations governing…
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