What Is A Homeowners Association
A Home Owners Association (HOA) is an organization of homeowners of a particular subdivision, condominium or planned unit development. The purpose of a homeowners association is to provide a common basis for preserving, maintaining and enhancing their homes and property. Most homeowners associations are non-profit corporations. They are subject to state statutes that govern non-profit corporations and homeowner associations. The responsibilities may vary with each community and are in accordance with the desires of the association members and their elected Board of Directors. The Board has the responsibility of directing the provision of services, regulate activities, levy assessments, and impose fines. Normally the Board contracts with a management company who fulfils their requests. Each member (aka Home owner) of a homeowners association pays assessments (Dues), which fund the maintenance and business administration matters of the community.
The specific duties and responsibilities of a community association are found within their unique set of governing documents. These governing documents typically consist of:
1. Declaration of Covenants, Conditions & Restrictions - Creates the community association, contains the deed restrictions, establishes mandatory membership and payment of assessments.
2. Articles of Incorporation - Sets forth the structure and basic governance of the corporate body
3. Bylaws - Defines how the association is to be operated.
For more information about the FoxChase I Homeowners Association, please contact one of the FoxChase Board Members listed on this website or the management company, MRBrooks & Assoc., LLC.