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For a discussion of nonprofit, voluntary neighborhood advocacy groups, see neighborhood association.
A homeowner association is a corporation formed by a real estate developer for thepurpose of marketing, managing, and selling of homes and lots in a residential subdivision. It grants the developer privileged voting rights in governing the association, while allowing thedeveloper to exit financial and legal responsibility of the organization, typically by transferring ownership of the association to the homeowners after selling off a predetermined number of lots.It allows a civil municipality to increase its tax base, but without requiring it to provide equal services to all of its citizens. Membership in the homeowners association by a residentialbuyer is typically a condition of purchase; a buyer isn't given an option to reject it. Some homeowner associations hire and retain property management companies. The board of directors isresponsible for the retention of these companies.
Most homeowner associations are incorporated, and are subject to state statutes that govern non-profit corporations and homeowner associations.State oversight of homeowner associations is minimal, and mainly takes the form of laws which are inconsistent from state to state. Some states, such as Florida and California, have a largebody of homeowner association law, and some states, such as Massachusetts, have virtually no homeowner association law.
The fastest growing form of housing in the United States today iscommon-interest developments (CIDs), a category that includes planned-unit developments of single-family homes, condominiums, and cooperative apartments.[1] Since 1964, homeowner associationshave become increasingly common in the USA. The Community Associations Institute trade association estimated that HOAs governed 24.8 million American homes and 62 million residents in 2010.[2]