Significant expenses in development occur, and homeowners must cover the costs, one way or another. An HOA commonly maintains a type of savings account called the cash reserves or a reserve account for significant, infrequent, or unexpected common area costs.

When residents in your association are having a dispute, it can be challenging to know when the HOA should get involved. While you don't want to be nosy, regulations from the Department of Housing and Urban Development (HUD) and the Fair Housing Act (FHA) make community associations liable for taking prompt action.