Homeowners Association (HOA) Fees

Homeowners Association and HOA Fees

HOA, also known as Homeowners Association, is an organization typically founded and put in place by a real estate developer in order to manage a community of houses, condominiums or townhouses. HOA fees are expenses paid monthly by owners to cover the costs of maintaining the building’s common areas.

What You Need to Know about HOA Fees?

  • HOA fees can change. Make sure to ask the HOA for their fee history.
  • HOA fees don’t cover everything. Read the policy carefully.
  • HOA fees won’t cover your personal property. So you still need homeowners insurance.

If you want more detailed information regarding HOAs, you can check out Insuring Your Home In An HOA Community.

If you need home insurance quotes to compare, or more home related information, please go to EINSURANCE.com before you make your final decisions.

About Dale Williams

Dale Q. Williams, MBA, is a well-respected financial executive whose experience spans from insurance to investment banking. Dale has first hand underwriting experience through working for one of the largest U.S. based insurance carriers, and advisory experience from working for several bulge-bracket and middle-market investment banks. Dale also received his MBA from University of Chicago Booth School of Business, with concentrations in finance and accounting.