If you’ve ever felt unsure about what a homeowners association actually is, you’re not alone. The concept can be confusing, especially for newer or younger owners. So let’s break it down simply, without jargon.
When you buy a condo in a building with an HOA, you’re not just buying your unit—you’re becoming part of a shared ownership community. That means you’re now jointly responsible, with everyone else in the building, for the upkeep and future of the entire property. The elevators, the plumbing, the lobby, the garage… you all own it together.
What your monthly assessment actually covers
Those monthly payments—called assessments—aren’t a service fee. They’re a contribution to the overall health of the building. They typically go toward:
-
Day-to-day operations: cleaning, staff, electricity, water, insurance, and so on
-
Repairs and maintenance: whether it’s fixing a leak or resurfacing the roof
-
Saving for the future: this is called the reserve fund, and it helps cover large-scale projects down the line
-
Loan repayment (if any): sometimes the association needs to finance big infrastructure improvements
In other words, assessments are how the building functions, stays safe, and maintains its long-term value. You’re not paying a landlord—you are one of the owners keeping the place going.
What it means to be part of an HOA
Being part of an HOA means you have a voice. You can ask questions, get involved, and even help lead if you choose to run for the board. The board doesn’t exist to hand down decisions from above—it’s made up of neighbors volunteering to represent the building’s best interests.
If you’ve ever wondered,
“Why does this cost so much?”
or
“What happens if we don’t fix that?”
those are the exact kinds of questions board members wrestle with all the time. And the more owners who understand how it works, the better the whole community runs.
This post isn’t meant to overwhelm—it’s here to invite more clarity and more connection between neighbors. If you’re an HOA member, you’re not on the outside looking in. You’re already at the table.