We understand how frustrating it can be to search for a home in Austin. Half the battle is learning the key terms and what they mean in regards to Texas real estate. So each week we bring you Key Term Tuesday – our way of helping you decode the industry jargon that keeps you from owning your home search.
What is a HOA?
HOA stands for Homeowner’s Association; a homeowner’s association is the governing body of a subdivision. They are responsible for creating, policing and enforcing the rules, restrictions and bylaws that determine what an individual home owner can do with their property.
In Texas, participation is almost always mandatory. HOAs require that dues be paid and go toward the ongoing operational expenses of the common property. The HOA has a board of directors that is elected by the membership.
Want to Lean More About HOAs?
Read our related post: Understanding HOAs in Austin
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