The Foundation for Community Association Research estimates that there are at least 18,600 “Homeowners Associations” (or “HOAs” for short)[1] in the State of Texas, and that the total value of all homes that are governed by a Texas HOA is $264 billion, the total amount of annual assessments paid by Texas homeowners is $3.6 billion, and the total amount of annual reserve fund contributions paid by such homeowners is $1.13 billion.[2] Suffice it to say, the operation of Texas HOAs is a billion dollar industry. The Foundation for Community Association Research further estimates that Texas HOAs are managed by an estimated 128,000 volunteer homeowners who serve on either a HOA’s Board of Directors or some other HOA committee, most of whom are not legal or real estate professionals.   Read the article……………