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What Are HOA Fees—and What Do They Actually Pay For?

Curious about homeowners association fees? Here’s how HOA fees are collected and used. By Kristine Gill | Better Homes There are two major components to a homeowners association (HOA). The first is that the organization oversees a set of rules particular to the residential community. The second component is the associated fee required for living in the community and how the HOA fees benefit the homeowners. “An HOA fee is typically structured per community to enforce rules and regulations so it can set the covenants, conditions, and restrictions,” says Donna Soda, Realtor and global real estate advisor. “The idea is to maintain the community in a beautiful manner.” DEFINITION: What is a homeowners association? A homeowners...

by Jenn Pfeiffer

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