What is an HOA (or COA for that matter)?

What exactly is an HOA or COA for that matter? Both are very similar and fairly simple. Both are considered to be the most common real estate organizations, they are Homeowner’s Associations (HOA) and Condominium Owners Associations (COA). Both HOAs and COAs are nonprofit entities created to manage and maintain the common areas, such as driveways, sidewalks, community pools, parks, clubhouses, and other shared areas of a subdivision or condominium development.

HOAs are typically found in single-family home developments. An HOA is responsible for maintaining shared areas like parks, sidewalks, streets, community pools and other common elements in the neighborhood. The HOA will also put rules in place to ensure that homeowners follow certain standards such as yard maintenance and noise levels. The HOA board members are elected by the homeowners in the development who purchase an annual membership that pays for these services. The annual dues help fund operations like landscaping services or pool maintenance.

COAs can be found in condominium developments where multiple families live together in one building. A COA is essentially an HOA but on a smaller scale since they only manage the common areas within one building instead of an entire neighborhood. Just like HOAs, COA boards set rules for their residents to follow regarding noise levels, trash disposal, parking regulations and pet restrictions. These boards usually collect monthly dues from their residents to cover expenses such as cleaning services or repairs for common areas within the building complex.

Overall, both HOAs and COAs serve similar functions but on different scales. They are both responsible for maintaining shared spaces as well as enforcing certain regulations within their respective developments so that all residents can live comfortable lives without disturbing each other’s peace and tranquility. In addition to providing these facilities for residents’ convenience, both HOAs and COAs also provide security features like surveillance cameras or fences around perimeters – which helps keep residents safe from intruders or vandalism.

Interested in learning more details about HOA’s, COA’s? Here’s a great read 👉 9 Things to Know About Homeowner Associations