The number of homeowners associations is on the rise - the Community Associations Institute says there were 286,000 of them in 2006 with control over $41 billion in operating revenue - double what fast-food giant McDonald's makes in a year.
Along the Grand Strand and in Brunswick County, N.C., almost all of the developments built since 2000 have homeowners associations attached, said Steven Neeves with the Coastal Carolinas Association of Realtors.
As the number of residents in these associations grow, so does the number of disputes and the need for regulation over associations' governing boards, critics say.
HOA perks
Most homeowners associations are nonprofit corporations responsible for maintaining a neighborhood's common areas, such as pools, tennis courts, parks and sometimes roads. Some also contract with companies to provide services, including insurance, pest control and home repairs to all homes in the neighborhood or complex.
Residents pay monthly dues for these services that range from less than $25 to more than $500, and they must follow the association's covenants, conditions and restrictions included with the deed when they purchase the home.
In most cases, residents get a good deal for their monthly dues, said local real estate experts.
