HOA management glossary.
The words of an association: its documents, its money and its board, explained for owners.
0 terms defined, 6 planned
CC&Rs
Covenants, conditions and restrictions: the recorded rules every owner of a community agrees to.
HOA
A homeowners association: the organization that runs a community, with every owner as a member.
HOA dues
The regular payment each owner makes to the association for upkeep, insurance and reserves.
Reserve fund
Money an association sets aside for large repairs to come, such as a roof or a parking lot.
Reserve study
A report that estimates the large repairs to come and what the reserve fund should hold.
Special assessment
A one-time charge to the owners when the budget and the reserves do not cover a cost.
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