What is a Homeowners Association?

If you’re like many buyers looking at homes for sale in downtown Los Angeles, you’ve probably learned a little about homeowners associations, or HOAs – but what are they, and what do they do?

A homeowners association is a group that requires membership if you live in a certain building or community. You’ll have to pay monthly or annual dues for upkeep of the common areas and the building.

How Much Does HOA Membership Cost?

HOA membership costs vary by community, but on average, you can expect to pay between $200 and $400 per month.

What Does an HOA Do?

Your HOA’s main goal is to preserve property values for all members. It does that by maintaining common areas, sometimes providing security and other amenities, and conducting maintenance or performing repairs to things that are jointly owned within the community.

HOAs hold residents accountable for following the group’s rules, which can involve things like:

What types (and what sizes) of pets you can have
What paint colors you can use
What types of window dressings that face outward that you can use
Where you can park

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