What is the primary function of a Homeowners Association (HOA)?

The primary function of a Homeowners Association (HOA) is to maintain common areas and enforce community rules. HOAs are established in residential communities to manage shared spaces and amenities, such as parks, pools, and landscaping. They play a critical role in ensuring that the community remains aesthetically appealing and that property values are preserved.

By enforcing community rules and regulations (often found in the governing documents of the HOA), the association helps to maintain standards for the neighborhood. These rules can cover aspects such as architectural guidelines, noise control, and property maintenance, which are intended to promote a harmonious living environment among residents.

This role of maintaining common areas and upholding community standards sets HOAs apart from other functions mentioned in the alternative choices, such as those involving property sales, mortgage rates, or conducting surveys. Each of these alternatives does not align with the primary objectives and responsibilities of an HOA, reinforcing the importance of B as the correct choice.