Homeowner association (HOA) fees are fees paid by homeowners who live in a planned community or a condominium complex. These fees are used to cover the costs associated with maintaining and improving the common areas and amenities of the community, such as landscaping, pool maintenance, trash removal, and security services. The fees may also cover insurance for the common areas, repair and maintenance of shared structures like roofs, siding, and driveways.
The amount of HOA fees varies depending on the community and the services provided. The fees can range from a few hundred dollars to several thousand dollars per year. The fees are typically paid monthly, quarterly, or annually, and are mandatory for all homeowners in the community.
It is important to note that the HOA has the power to enforce compliance with community rules and regulations, and can fine homeowners who violate these rules. Additionally, failure to pay HOA fees can lead to legal action by the HOA, including the placing of liens on the homeowner's property. Therefore, it is important for homeowners to be aware of the HOA fees and their responsibilities as members of the community