The Role and Benefits of Homeowners Associations
Homeowners associations are corporations that manage residential developments, condos, or townhouses. Once you buy a building or a property governed by Homeowners Associations, you automatically attain an HOA membership. This means you have to abide by HOA rules and regulations. Additionally, there is a must-pay fee once you become a member.
Generally, homeowners associations are run by directors usually elected by homeowners. The primary role of the managing board is to protect property value, oversee its common assets, and create a good living atmosphere.
The HOA board of directors usually includes a president, treasurer, and secretary, where the president is the overall leader. The HOA…
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