Homeowners Association (HOA)

Definition

An organization governing a residential community through bylaws and fees—where neighbors become your involuntary business partners.

Example Usage

The HOA fees increased to $450/month due to major roof repairs on the common areas.

Origin

Formalized in the 1960s with the rise of planned communities

Fun Fact

HOA boards are where regular people discover they have unlimited authority and a burning desire to enforce rules.

Source: Community Associations Institute Standards

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