HOAs are an increasingly common fact of real estate.
HOA stands for “Home Owner's Association.” The term is often used as shorthand to describe the monthly/annual dues paid to said association (i.e. “The HOAs at this place are high!”) Many developments in and around Charlotte are HOA-governed.
What are HOAs, Exactly?
Great question! HOAs are usually formed when a developer builds a multi-family residential property. This kind of "property" can manifest in several ways: A condo building; a townhome complex; and even a planned neighborhood of single family homes. The Home Owner’s Association (specifically, the HOA bylaws, a lengthy set of provisions for the community) provides structure to the community, outlining rules and regulations as well…