Homeowners' Association

Importance: 0.43

Is a company: yes

Is a proper noun: yes

Synonyms

  • owners group

Acronyms

  • HOA

Alternate Spellings

  • Homeowner's Assoc.
  • Homeowner's Association
  • Homeowners' Association
  • Homeowners' Assoc.

Definition of Homeowners' Association

  1. An elected group that governs a subdivision or planned community. The association collects fees from the home owners to maintain common areas and enforce covenants, conditions, and restrictions set by the developer and the association.

Related Terms and Acronyms

  • Proprietor Bank,
    • The owner of a business or property.
  • Condominium Fees Definition,
    • Monthly maintenance fees paid for by condo owners. It is used to cover the cost of repairs, landscaping and building amenities.
  • Replacement Reserve Fund Definition,
    • Money that is set aside by a homeowners association or condominium board to replace common property, such as playground equipment.
  • Maintenance Fee Definition,
    • A periodic assessment that residents pay to their homeowners or condominium association to pay for maintenance and repair of common areas.
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