An owners association is an analogue of a Russian HOA. It has its own administration, headed by a president, whose members are chosen from among the owners.
An association may include a single apartment building, several adjacent buildings, or a complex of townhouses.
After a general vote of owners, the administration sets the rules that all homeowners and tenants must follow.
What the owners association decides:
- The amount of regular payments (HOA fee) that each owner must make monthly or quarterly.
- What expenses will be covered by regular contributions from property owners. Typically, these funds are used for maintenance of common property, insurance of objects, garbage removal and water supply, security and roof repairs.
- Can owners rent out apartments and under what conditions? For example, a minimum rental period is established, the number of times per year that the apartment can be rented.
- Are owners and residents allowed to have pets and, if so, are the weight, type and total number of pets limited?
- Who can become a member of the association. For example, some HOAs may have restrictions on the age of a potential owner. 55+ Associations (HOPAs) may require that all residents be 55 years of age or older, or only the owners.
- Hires personnel to maintain the territory and infrastructure facilities.
