Features of a Homeowners' Association

Last Updated on Friday, 26 March 2010 02:26 Written by Board Member Thursday, 25 March 2010 00:00

Minotaur Village Homeowners' Association is a formal legal entity created to maintain the property and common areas and has the authority to enforce deed restrictions. Most condominium and town home developments and many newer single-family subdivisions have HOAs, created when the development is built. Covenants, Conditions & Restrictions (CC&R's) are issued to each homeowner with a copy of the Policies, Rules, and Regulations that set a standard and expectations of the residents to ensure the upkeep, quality and property value of the association is maintained.

Features of a Homeowners' Association:

• Membership is mandatory for all property owners within the development
• Members are charged mandatory fees
• Homeowners associations have the authority to enact and enforce maintenance and design standards in addition to those established by City ordinances
• Homeowners' associations are corporations with formal bylaws - there is usually a governing board which hires a property management company to handle maintenance and enforcement issues
• Provide many services at substantially lower rates than a single family home
• Homeowners' associations publish a newsletter