Definition
The mandatory yearly meeting where HOA members vote on budgets, elect board members, and address community issues. It's your chance to have a voice in what happens in your community.
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Find my pathAbout this term
Annual meetings are mandatory and governed by bylaws and state law. Meetings cover financial reports, major decisions, and board elections. Members can vote in person or by proxy. Meeting quality varies significantly; well-run meetings foster community and transparency; poorly-run meetings breed dissatisfaction.
Pro Tip
Attend these meetings or vote by proxy. Your participation influences community decisions and expenses that affect your home's value.
Example
An HOA holds an annual meeting in January where 60% of members attend or vote by proxy, elect a new board, and approve the budget