Real Estate Glossary > H > Homeowners Association Definition

A group that manages a shared housing complex. Condos An apartment you own, as opposed to rent. Condo developments are managed by a homeowner's association that collects monthly dues, maintains operations and enforces policy. , co-ops A type of residence where the buyer owns shares in the corporation that owns the building and has the right to live in a specific unit, but doesn't actually own the space. and cul-de-sac developments will usually have an HOA board that enforces the community rules and provides building maintenance. The HOA will provide funding for repairs, grounds maintenance and security for the building by collecting money from the homeowners. Within two to five days of putting in an offer on a home with an HOA, buyers get access to the covenants, conditions and restrictions Limits and rules placed on a group of homes by a builder, developer, neighborhood association or homeowner's association. (CC&Rs) document that lists HOA rules and the operating budget.

If a listing is part of building with a Homeowners Association, you can find information about monthly dues under Homeowners Association Information in the amenity A feature of a home such as a fireplace, jacuzzi, garden or swimming pool. section on every home detail page.