1. HOA (Homeowners’ Association): A private organization in a residential community that sets and enforces rules for properties and residents. It often charges fees to maintain common areas and amenities.
2. HOA Dues: Monthly or annual fees that homeowners pay to cover the costs of maintaining shared community spaces and services managed by the HOA.
3. Covenants, Conditions, and Restrictions (CC&Rs): The rules established by an HOA that homeowners must follow, covering things like home appearance, property use, and behavior within the community.
4. PUD (Planned Unit Development): A type of real estate development where common areas are shared by homeowners and are maintained by a Homeowners' Association. It can include both residential and commercial units.
5. Special Assessment: A one-time charge imposed by an HOA for major repairs or improvements that exceed the regular budget.
6. Resale Certificate: A document provided by the HOA to a buyer during a property sale, detailing HOA fees, rules, and any unpaid dues on the property