Homeowners Association (HOA)

Homeowners Association (HOA)

The purpose of a homeowners association is to manage a property’s or neighborhood’s common areas; such as roads, parks, pools and more. Homeowners are obligated to pay dues which could range from a few dollers per mounth to thousands per mounth, depending on the building/neighborhood and its amenities. This is an added monthly expense on top of a mortgage payment and should be considered as such when investing in a property.