HOA’s: The rules and regulations you need to know

Greater Louisville Association of REALTORS

The key task of a homeowners’ association (HOA) is to protect its members and protect their property values. If you’re planning to buy a home that features a HOA, knowing the rules and regulations is vital before purchase.  

CC&R
The CC&R is short for Codes, Covenants and Restrictions, which are essentially the basic framework for the HOA. Attorneys usually craft these documents, but since each HOA needs vary, the language is intentionally vague, according to Realty Times. This allows those in charge of the HOA to work together to determine the rules of their complex.

The Board
A HOA is typically run by a volunteer board of directors who are elected by the members of the HOA. It is this board’s obligation to enforce the rules set forth in the CC&R and the rule book limits their powers. Some of their basic duties include collecting HOA dues, enforcing code violations…

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