Homebody: The good and the bad of home associations
A homeowner association (HOA) is typically a nonprofit corporation within a community of housing. Most HOAs exist in planned multi-unit community projects such as condominiums and townhomes or in newer developments filled with new construction. Membership is mandatory and the association is governed by a board of directors made up of elected community residents once control is passed off from the developer. Practically all incorporated HOAs are subjected to state laws in addition to unique governing restrictive covenants and bylaws. These restrictive covenants and bylaws define community standards so as to protect property values. It’s this intention that is the good [...]