These communities are usually overseen by homeowners associations.
Homeowners associations, also known as HOAs, are self-governing organizations that implement rules for homeowners and renters within common-interest communities.
The board may choose to hire a management company, many of which are for-profit, to help run day-to-day operations.
Roughly 84% of newly built, single-family homes sold in 2022 belonged to homeowners associations, according to the U.S. Census Bureau.
"But it seemed like [the deal] never got to the management [company] or homeowners association," Enrique Inostroza said.
Persons:
Jewel Inostroza, Enrique, Gen Z, it's, Deborah Goonan, Inostroza, Enrique Inostroza, Mark Licea, HOA, Bradley, Tom Skiba, Skiba, Steve Horvath
Organizations:
Homeowners, Finance, . Census, Communities, CNBC, Management, HOA, Sentry Management, Community Associations Institute, Economics, Rocket Mortgage, HOA United
Locations:
Newnan , Georgia, HOA, U.S