Glossary
A
Amenities: Facilities or services provided by the HOA for the use of its members, such as pools, clubhouses, or tennis courts.
Annual Meeting: A mandatory yearly gathering where HOA members vote on various issues, elect board members, and discuss community concerns.
Architectural Review Committee (ARC): A group responsible for ensuring that any changes or additions to homes meet the community's design standards.
B
Board of Directors: Elected members who manage the HOA's affairs, make policy decisions, and oversee operations.
Bylaws: Rules that define how the HOA operates, including how meetings are conducted, how officers are elected, and how decisions are made.
C
Capital Reserve Fund: Funds set aside for major repairs or replacements of common property elements like roofs, roads, or elevators.
Common Areas: Areas owned by the HOA for use by all residents, like parks, roads, and community centers.
Covenants, Conditions, and Restrictions (CC&Rs): Legal documents that outline the rights and obligations of property owners in an HOA, including rules on property use, maintenance, and modifications.
D
Dues: Regular payments by homeowners to the HOA for maintenance, improvements, and services of communal areas.
E
Easement: A legal right to use another's land for a specific purpose, like access or utilities.
Enforcement: The process of ensuring compliance with HOA rules, which can involve fines or other sanctions.
F
Fiscal Year: The 12-month period used by an HOA for budgeting and financial reporting purposes.
G
Governing Documents: Collective term for CC&Rs, bylaws, and rules/regulations that govern the HOA.
H
Homeowners Association (HOA): An organization in a subdivision, planned community, or condominium that makes and enforces rules for the properties and residents.
L
Lien: A legal claim against a property for unpaid HOA dues or assessments, which can lead to foreclosure if not resolved.
M
Maintenance Fee: Another term for HOA dues, used for ongoing maintenance of common areas.
Meeting Minutes: Official records of what was discussed and decided at board or association meetings.
P
Property Manager: An individual or company hired to handle the day-to-day operations of the HOA.
Q
Quorum: The minimum number of members needed to be present at a meeting for decisions to be legally valid.
R
Reserve Study: An analysis to determine how much money should be set aside to repair, replace, or restore common property elements.
Rules and Regulations: More detailed guidelines than CC&Rs for daily living within the community, which can cover parking, noise, pets, etc.
S
Special Assessment: An additional fee levied on homeowners for unexpected or large expenses not covered by the regular dues.
Subdivision: A piece of land divided into lots for housing development, often managed by an HOA.
T
Town Meeting: Another term for an association meeting where community members can discuss and vote on issues.
U
Unit: In condominiums, refers to an individual apartment or section owned by a homeowner.
V
Violation: An act of non-compliance with HOA rules, which might result in fines or other penalties.
W
Waiver: Sometimes used to allow a homeowner to bypass certain HOA rules under specific conditions.
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