Final answer:
HOA stands for Homeowners Association in the context of condo dwellers. It is an organization that governs the rules, regulations, and maintenance of common areas and facilities. HOAs collect fees to cover expenses and enforce rules to maintain the community's aesthetic appeal and peacefulness.
Step-by-step explanation:
HOA stands for Homeowners Association in the context of condo dwellers. It is an organization that is typically formed by the residents of a community or neighborhood to govern the rules, regulations, and maintenance of common areas and shared facilities.
The primary purpose of an HOA is to ensure a harmonious living environment and maintain the value of the properties within the community. They collect fees from homeowners to cover expenses such as landscaping, security, and the upkeep of amenities like pools and gyms.
HOAs also enforce rules and restrictions, such as architectural guidelines, noise limits, and pet policies to maintain the aesthetic appeal and peacefulness of the neighborhood.