Living in a community comes with its set of pros and cons. While every homeowner is responsible for their own property, there are shared amenities or areas that they are also partly responsible for. Public swimming pools within the community or neighborhood, street lights, local roads and security are all things that members of the community share. A home owners’ association, or HOA, is usually established by property owners within a community with the aim of managing these shared amenities.
HOA and property management has similarities, but they are two different things. With property management, the property owner hires a property manager to take care of their property. With HOA, however, a community comes together to ensure shared amenities are well taken care of. Please note that a property manager can be hired by an HOA to manage the shared amenities.