Loading...
Definitions board members actually need — special assessments, reserve studies, CC&Rs, quorums, and more.
A ballot that lets a member vote without attending the meeting in person, submitted in advance.
Money the HOA owes to vendors and service providers but has not yet paid.
Money owed to the HOA but not yet received — primarily unpaid dues and assessments.
An accounting method that records income and expenses when they're earned or incurred, not when cash actually changes hands.
An insurance valuation that pays the depreciated value of property — replacement cost minus wear and age.
A temporary committee formed for a single project or issue that disbands once its task is complete.
A condo master-policy approach that insures the building including standard unit interiors, reducing what owners must cover.
A formal change to an HOA's governing documents, usually requiring a membership vote at a set threshold.
A shared feature or facility the HOA provides for residents — such as a pool, gym, clubhouse, or park.
A federal law requiring accessibility in public accommodations, which can apply to certain HOA common areas open to the public.
A required distribution of the upcoming year's budget to owners, often with reserve and assessment information.
The once-a-year membership meeting where owners typically elect the board, review finances, and vote on major matters.
The published standards that define acceptable exterior changes and guide the architectural review committee's decisions.
A homeowner's formal application to make an exterior change to their property, submitted to the HOA for approval.
The committee that reviews owners' requests to modify their property and ensures changes meet community standards.
The document filed with the state that legally creates the HOA as a corporation, usually nonprofit.
Unpaid amounts an HOA concludes it likely won't collect, which are written off the books.
A financial statement showing an HOA's assets, liabilities, and equity at a point in time — a snapshot of its financial position.
The process of matching the HOA's own records to its bank statement to confirm every transaction agrees.
A condo master-policy approach that insures the building structure but not unit interiors, leaving those to owners.
The report, required under the Corporate Transparency Act, identifying the individuals who substantially control an organization such as an HOA.
A meeting of the HOA's directors to make decisions and conduct the association's business, usually open to members.
The elected group of volunteer homeowners responsible for governing an HOA, making decisions, and managing its finances and affairs.
A formal, documented decision or policy adopted by the board through a vote, creating an official record of the action.
An unfilled board seat, created by resignation, removal, or a lack of candidates, that must be filled per the bylaws.
A process in some states where a board-adopted budget takes effect unless a required share of owners votes to reject it.
The internal rulebook that governs how an HOA operates — how the board is elected, how meetings run, and how decisions are made.
A significant addition or upgrade to community property that adds value or extends its life — distinct from routine repairs.
Funds an HOA sets aside for major future repairs and replacements of common-area assets, like roofs, roads, and pools.
A document proving a party — often a vendor — carries specified insurance coverage.
The organized list of financial categories an HOA uses to record and report its income and expenses.
A property-insurance clause that penalizes claims if the HOA insured its property for less than a required percentage of value.
A written, board-adopted policy defining how the HOA handles late payments — reminders, fees, notices, and escalation.
A group of volunteers assigned to focus on a specific area — like finance, landscaping, or architecture — usually advising the board.
The shared property an HOA owns and maintains for all members — such as roads, pools, clubhouses, landscaping, and building exteriors.
The legal umbrella term for any community where owners share ownership of, and responsibility for, common areas — including HOAs, COAs, and POAs.
A professional (often through a management company) hired to handle an HOA's day-to-day operations on behalf of the board.
An association that governs a condominium, where owners hold their individual units plus a shared interest in the building's common elements.
A federal law that can require HOAs, as corporations, to report information about the individuals who control them.
The recorded legal document that sets the rules, restrictions, and obligations binding every owner in an HOA community.
A voting method that lets members concentrate all their votes on one candidate, helping minority groups win board representation.
The time an owner is given to correct a violation before the HOA imposes penalties.
California's comprehensive law governing common interest developments, setting rules for HOA operations, meetings, and finances.
The developer or original owner who creates an HOA and records its CC&Rs, controlling the community until it transitions to homeowner control.
Maintenance that's postponed to save money now, usually leading to bigger, costlier repairs later.
An owner's failure to pay HOA dues or assessments by the due date, triggering the association's collections process.
The process by which members can vote to remove a director from the board before their term ends.
Insurance that protects HOA board members personally from claims arising out of their decisions and service on the board.
The fair procedures an HOA must follow before penalizing an owner — typically notice and an opportunity to be heard.
A legal right to use part of another's property for a specific purpose, such as utilities, access, or drainage.
A federal tax ID number an HOA uses to open bank accounts, file taxes, and identify itself to the IRS.
The instrument members use to cast their vote in an HOA election, whether on paper or securely online.
An official statement from an HOA, usually requested during a home sale, certifying what an owner owes and the account's status.
A closed portion of a board meeting reserved for sensitive matters like legal issues, personnel, contracts, or delinquent accounts.
Income from members for the HOA's core purpose — like dues — that can be excluded from taxable income on Form 1120-H.
A federal law regulating how debts are collected, which can apply to HOAs and their agents when pursuing unpaid assessments.
A federal law prohibiting housing discrimination, which HOAs must follow in their rules, enforcement, and accommodations.
Coverage (also called crime insurance) that protects HOA funds against theft, fraud, or embezzlement by those who handle the money.
The legal obligation board members have to act in the association's best interest — with care, loyalty, and good faith.
An independent CPA's examination of an HOA's financial statements, providing the highest level of assurance they're accurate.
A CPA's limited-assurance analysis of an HOA's financials — less extensive and less costly than a full audit.
A monetary penalty an HOA imposes on an owner for a rules violation, following its enforcement procedure.
The 12-month period an HOA uses for budgeting, accounting, and reporting — not necessarily the calendar year.
A U.S. federal tax form many HOAs use to file their income tax return under rules specific to homeowners associations.
A federal law preventing HOAs from banning owners' respectful display of the U.S. flag, subject to reasonable rules.
An accounting approach that separates money into distinct funds — like operating and reserves — so each is tracked on its own.
The complete record of all an HOA's financial transactions, organized by account — the backbone of its books.
Coverage that protects an HOA if someone is injured on common property or the association is blamed for damage.
The full set of documents that establish and govern an HOA — typically the articles of incorporation, CC&Rs, bylaws, and adopted rules.
A provision allowing a pre-existing condition to continue even after a new rule would otherwise prohibit it.
A meeting where an owner can respond to an alleged violation before the board decides on penalties.
An individual condo-owner insurance policy covering the unit interior and belongings not covered by the HOA's master policy.
The regular fees owners pay to fund an HOA's operations, maintenance, and reserves — usually monthly, quarterly, or annually.
A legal process by which an HOA can force the sale of a property to collect unpaid assessments secured by a lien.
A legal claim an HOA can place on an owner's property for unpaid dues or assessments, securing the debt against the home.
The handover of control of an HOA from the developer to a homeowner-elected board once enough homes are sold.
The protections owners have within an HOA — such as access to records, notice of meetings, and fair enforcement.
A private organization that governs a residential community, enforces its rules, maintains shared areas, and collects dues from its members.
A report of an HOA's income and expenses over a period, showing whether it operated at a surplus or deficit.
A neutral person or party who oversees an HOA election and ballot count to ensure it's fair and impartial.
A formal request to an insurer for payment after a covered loss, such as storm or fire damage to common property.
The amount an HOA pays out of pocket on a claim before insurance coverage begins.
A charge added to an owner's account when dues or assessments aren't paid by the due date.
The order in which liens against a property are paid from a sale — which determines whether an HOA lien gets satisfied.
Shared property reserved for the use of specific owners rather than the whole community — like an assigned parking space, balcony, or patio.
Coverage on an owner's individual policy that helps pay special assessments the HOA levies after a covered loss.
The HOA's primary insurance policy covering common areas and shared property, distinct from owners' individual policies.
The official written record of what a board or membership meeting decided — motions, votes, and actions taken.
An owner who is current on assessments and compliant with the rules, often a condition for voting or using amenities.
The person or entity specifically covered by an insurance policy — for HOA policies, usually the association itself.
The process of putting forward a candidate for election to the board.
Advance notification to members of a meeting or action, sent within the timeframe and method required by the governing documents or law.
A formal written notice informing an owner of a rules violation and what's required to resolve it.
A CC&R provision prohibiting activities that unreasonably disturb or interfere with neighbors' enjoyment of their property.
A board member holding a specific leadership role — typically president, vice president, treasurer, or secretary.
Rules — set by state law or governing documents — requiring most HOA board meetings to be open to members, with proper notice.
The annual plan for an HOA's recurring income and expenses, used to set dues and guide day-to-day spending.
A secure online hub where homeowners can pay dues, submit requests, access documents, and stay informed.
The HOA's rules governing where and how residents and guests may park within the community.
A measure of reserve health comparing actual reserve savings to the ideal amount for the age of the community's assets.
The HOA's rules on pets — types, numbers, leashing, and waste — balanced against fair-housing accommodation requirements.
The lead officer of the HOA board, responsible for running meetings, guiding the board, and often acting as its main point of contact.
Scheduled, routine upkeep that extends the life of community assets and prevents costly emergency repairs.
Coverage for physical damage to the HOA's buildings and common-area assets from events like fire or storms.
An association governing a community that may include a mix of property types — often broader than a standard HOA, sometimes covering commercial parcels too.
A method allowing a member who can't attend a meeting to authorize someone else to represent their vote and count toward quorum.
The recurring, budgeted assessment owners pay on a set schedule — the formal term for ongoing HOA dues.
A limit on the number or percentage of homes in a community that may be rented at one time.
Any CC&R provision limiting an owner's ability to lease their property — from minimum lease terms to outright bans.
An insurance valuation that pays what it costs to rebuild or replace property today, without deducting for depreciation.
A formal solicitation asking multiple vendors to bid on a project so the board can compare options fairly.
A document an HOA provides during a home sale disclosing the account status, fees, and key information a buyer needs.
The bundle of documents an HOA provides to a buyer during a sale — governing documents, financials, and disclosures.
The portion of the budget set aside each period to build the reserve fund for future major repairs.
A required summary telling owners how well-funded the reserves are and whether special assessments are anticipated.
A professional assessment of an HOA's major assets that projects when each will need replacement and how much to save each year.
A binding limitation on how property may be used, recorded in the CC&Rs and enforceable by the HOA.
A provision letting the HOA (or another party) match an offer before an owner can sell or lease to someone else.
An owner's legal right, in most states, to review certain HOA records like minutes, financials, and governing documents.
A written, board-adopted policy defining how the HOA enforces its rules — notices, fines, hearings, and timelines.
Day-to-day operating rules the board adopts under the authority of the CC&Rs, without a full membership vote.
A voting method that keeps each member's choices anonymous, required for some HOA elections to protect against pressure.
The board officer responsible for the association's records — meeting minutes, notices, and official documents.
A community whose volunteer board runs day-to-day operations directly, without hiring a management company.
Rules addressing vacation-style rentals (like Airbnb) — often restricting or prohibiting stays under a set length.
Laws in many states that limit an HOA's ability to prohibit owners from installing solar panels.
A one-time charge an HOA levies on owners, beyond regular dues, to cover a large or unexpected cost — usually a major repair or a shortfall in reserves.
The legal time limit within which an HOA (or an owner) must take legal action, after which the right to sue may be lost.
A voting threshold higher than a simple majority — such as two-thirds or 75% — required for major decisions like amending the CC&Rs.
An approved exception to the community's standard rules, granting a specific owner permission to deviate from them.
A contract between an HOA and a service provider setting the scope, cost, term, and responsibilities of the work.
The board officer who supports the president and assumes their duties when the president is unavailable.
A breach of the community's rules or CC&Rs by an owner, which the HOA addresses through its enforcement process.
The rights that determine who may vote in an HOA and how much weight each vote carries.
A set of materials given to new owners introducing the community's rules, contacts, and how to get set up.
A tracked request to perform a specific maintenance or repair task, from creation through completion.
Insurance covering injuries to an HOA's employees or, in some cases, uninsured workers on its property.
Join thousands of communities using VlgeHOA to streamline operations, improve communication, and save time.