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A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents.
Being in an HOA typically involves adhering to community rules and regulations, and paying regular dues to help maintain a neighborhood's appearance and potentially increase property values.
The number of HOA governed homes is increasing in the U.S., and it is only a matter of time before you, or someone you know, considers moving into one.
This means homeowners associations, commonly referred to as HOAs, set rules and regulations for roughly 32% of the population, with stricter guidelines than other tenancies.
Housing in the United States is heavily commodified, and when viewed as an economic sector, contributes to 15% of the gross domestic product. [2] The amount of public housing is capped via the Faircloth Limit, and when available can only be offered to households meeting certain eligibility requirements.
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You may recall the story of Captain Michael Clauer and his wife, May. The couple, who live in Frisco, Texas, owned their $300,000 home free and clear. But when Michael, an Army reservist, was ...
Housing associations' day-to-day activities are funded by rent and service charges payments made by, or on behalf of, those living in its properties. In this sense, housing associations are run as commercial entities and the majority do not depend on donations for their general activities.