HOA or NOA?

I think I read somewhere that is HOA is a community run by assemt that are due by everyone in the nieghborhood, and that a NOA is voluntarly by those in the community, correct?

We are a nieghborhood of about 133 homes. We only have 1 common area which is are two main entrance into our neighborhood. No parks, No swimming pool, and no community hall. nothing.

We pay a yearly assemt of $250.00. Alot of the homeowners don't like the idea of paying this much money if this is all we have. Our common area are maintane for about $600.00 a month. If everyone pays we should have a yearly income of about $33,250.00, so we spend about $7,200.00 which gives us a reminding of about 26,000.00. But we haven't looked into other cost such as legal issues, people being foreclosed on and we have about 4 homes that we are foreclosing on and the attonrey cost is eating away that the remaining $26,000.00.

The other board members and myself have been talking about either hiring a diffrent management company or end the service and go NOA, can I get some of yall input.

Kenny, check your Declaration. I doubt it is an simple your HOA beign able to terminate the responsibilities of your association; to do so may be impossible. I would much rather be part of a manditory HOA than a voluntary HOA.

Kenny:

You can fire the management company, just follow the terms of your contract. I think Roger was referring to the fact that you probably can't abolish the HOA, that is a lot harder. Yes your homeowners can self manage if you wish.