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Homeowners Association A homeowners association is a non-profit entity, usually a corporation that serves to manage the common areas of a planned unit development complex or condominium complex. For example, if six homeowners built a townhouse complex, they might form a non-profit homeowner's association and collect dues to pay for services required in common by all such as the services of a landscaping company, grounds lighting for property enhancement and security, the services of an exterminator, and upkeep of common amenities such as a pool. The same concept can be extrapolated to a neighborhood association. Membership is compulsory in such entities as is payment of dues. It is not uncommon for a homeowners association to have rules regarding how an individual may paint their home or how they may plant the area around their home. These policies reflect a desire to maintain a certain standard of upkeep and a given "look" in the complex or neighborhood. More terms explained |
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