We don’t like Jargon either. Here's a list of some common HOA (Homeowner's Association) industry terms, defined in simple language:
HOA: An organization made up of homeowners in a particular community, responsible for maintaining common areas and enforcing rules and regulations.
Community: A group of homes or buildings that share common facilities and amenities.
Amenities: Shared facilities such as swimming pools, parks, recreation areas, etc.
Common areas: Areas of a community that are owned and maintained by the HOA, such as sidewalks, parks, and recreation areas.
Assessments: Regular payments made by homeowners to the HOA to cover the costs of maintaining common areas and amenities.
Board of directors: A group of homeowners elected by the community to govern the HOA.
Covenants, conditions, and restrictions (CC&Rs): Rules and regulations established by the HOA that govern the use of property and the community's common areas.
Bylaws: The rules and procedures for how the HOA is governed and how it operates.
Fine: A penalty imposed by the HOA for violation of CC&Rs or bylaws.
Special assessment: An additional fee levied by the HOA to cover the costs of a specific project or expense.
Voting rights: The right of homeowners to vote on HOA matters, such as changes to CC&Rs or the election of the board of directors.
Reserve fund: A savings account maintained by the HOA to cover future expenses, such as major repairs to common areas.