One of my clients just asked me what is the difference between an HOA and a Mello Roos. Good question, I thought. An interesting topic for the blog…..
An HOA (Home Owner Association fee) is typically associated with CIDs (Common Interest Developments) or types of residences where owners share some space in common. Because there is sharing of common areas (e.g. greenbelts, pool area, tennis courts, laundry facilities, gates around the community, etc…) the collective ownership (association members) will share in the upkeep and maintenance of these areas. This is why the residents will pay HOA dues to the association.
Steve Mun, Silicon Valley Realtor
www.stevemun.com
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