Homeowners Association Fee - HOA Fee

You live in one of those gated communities where (in movies, anyway) it turns out that most of the residents have been replaced by alien pod people. You have a bunch of common amenities. Tennis court. Olympic-sized swimming pool. Volleyball nets. Pod nest in the basement of the rec room.

It costs money to maintain these amenities. Gardners, pool cleaners, etc. So your neighborhood association collects a Homeowners Association Fee. It’s a check you write every so often (maybe monthly, maybe annually), with the funds used to keep up the common areas.