A HOA, or a homeowners’ association, is an entity made up of a board of homeowners, and sometimes operating in conjunction with a management company. The purpose of the HOA is to create and enforce certain rules for the community and collect the monthly or annual dues involved.
What kind of "rules" may be your next question. The HOA's rules generally involve maintaining a level of consistency, capital improvements, and deciding on certain conveniences for the neighborhood. Ideally, the rules center around the protection of property values.
Why the "dues?" The collected dues are used for the upkeep and maintenance of the common areas. As a general rule, a HOA is not meant to be a profit-making venture.
Is living in a Cape Coral HOA…