HOA monthly fee is the Home Owner's Association Fee. It is the monthly fee that homeowners living in Planned Unit Development pay to the association for maintaining grounds, landscaping, pool, spa, roofs, exterior and etc of complex. Planned Units Development are generally, condominium, townhouse complexes but there are single family home development (Playa Vista, L.A., CA). When buyers are viewing Planned Units Developments it is always good to choose complex with good HOA reserves. Reserves are substantial monies in reserve for normal wear tear and emergency maintenance.
Gail Mercedes Cole