Issue link: https://www.cominghomemag.com/i/1470856
START SMARTER Ten frequently asked questions about HOAs. Today's homebuying market is super-hot. Fewer homes are up for sale, and many buyers are looking to score their dream abodes. With so much competition, people are making offers on houses sight unseen—and studies show that almost 25% of these homes are in a neighborhood with a homeowners' association (HOA). Here, we're breaking down the most frequently asked questions and providing some need-to-knows about these managed communities. 01 WHAT DO HOAS DO? HOAs are non-profit organizations that keep a community looking nice and operating at its best by establishing and enforcing rules and guidelines that members must follow. HOAs often provide amenities and upkeep for shared spaces, and a maintenance and governance structure designed to increase home values. In general, HOAs help ensure owners properly care for their homes and that a consistent feel is maintained throughout a given neighborhood. 02 WHO RUNS THE HOA? The group of people assigned to run an HOA and act on the community's behalf is called the board of directors. A board is composed of volunteers from the community who are elected to their positions by other association members. Volunteers serving on the HOA board are known as board members, and every board has four central officer positions: president, vice president, treasurer, and secretary. 30