Welcome

Welcome to a new way of Management! Homeowners' associations, or HOAs, are formal legal entities created to maintain common areas; they have the authority to enforce deed restrictions. Most condominium and townhome developments, and many newer single-family subdivisions have HOAs, which are usually created when the development is built. Covenants, Conditions & Restrictions (CC&R's) are issued to each homeowner, and HOAs are established to ensure that they are adhered to in order to maintain the quality and value of the properties involved. According to the Community Associations Institute: An estimated 50 million Americans live in association-governed communities. Some 1.25 million people serve on community association boards, with another 300,000-plus serving as committee members. About 6,000 to 8,000 new community associations are formed every year. This includes condominiums, cooperatives and planned communities. It is estimated that more than four in five housing starts during the past 5-8 years have been built as part of an association-governed community. The estimated real estate value of the homes in all community associations is about $2 trillion, approximately 15 percent of the value of all U.S. residential real estate. Estimated annual operating revenue for U.S. community associations is $30 to $35 billion.