The purpose of an HOA is to protect the value of your property and the relationships between residents through the use of Covenants and By-Laws. It has been estimated that a property's value will fall as much as 20% when Covenants have not been followed.
Covenants generally include:
Establishing and collecting community maintenance fees
Architectural approval including landscaping and fence placement
Commercial use of properties
Placement of trash
Parking on streets