An HOA in real estate stands for Homeowners Association. It is a private organization in a residential community that creates and enforces rules for the properties and residents within its jurisdiction. HOAs are common in subdivisions, planned communities, condominiums, townhomes, and gated communities. Key roles of an HOA include:

• Managing and maintaining common areas such as parks, pools, landscaping, gyms, hallways, and other shared amenities.
• Enforcing rules and guidelines (called Covenants, Conditions, and Restrictions or CC&Rs) that set standards for property appearance and maintenance to help preserve property values.
• Collecting regular fees (monthly or annual) from homeowners to cover maintenance and services.
• Sometimes levying special assessments for major repairs or projects not covered by regular fees.
• Running through a board of directors, often elected from the residents, to oversee operations and enforce the rules.

Living in an HOA community means agreeing to abide by the association’s rules, which may affect how you can use or modify your property. The benefits include well-maintained communal areas and potentially higher property values, though fees and restrictions are factors to consider. In summary, an HOA is a governing body that maintains and regulates a residential community to enhance property values and living conditions through shared rules and collective management.