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Homeowners Associations
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What is a Homeowners Association (HOA)?
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A
A non-profit organization that manages and maintains a residential community.
💡 Explanation:
A Homeowners Association (HOA) is a non-profit organization that is responsible for managing and maintaining a residential community. HOAs are typically established by the developer of a new community, and they are governed by a board of directors that is elected by the homeowners.