Homeowners Association (HOA) fees are mandatory assessments levied on property owners within a planned community. These fees fund the maintenance, operation, and improvement of common areas, amenities, and services provided by the HOA. Failure to remit these dues initiates a series of escalating actions.
Consistent payment of assessments ensures the financial stability of the HOA, allowing it to fulfill its responsibilities, such as landscaping, security, and building upkeep. Historically, HOAs were established to maintain property values and provide shared amenities, fostering a sense of community and shared responsibility. The consequences of non-payment directly affect the HOA’s ability to maintain these standards and services, potentially impacting property values for all residents.