Lake Caroline Owners Association (LCOA)
We are your homeowners’ association, a corporation that elects to be taxed as a homeowners’ association under Internal Revenue Code Section 528. Lake Caroline is a private, planned community, developed to be aesthetically pleasing and functionally convenient. Our primary purpose is to safeguard your property values. Once an individual buys a property that individual automatically becomes a member.
According to the Journal of Urban Economics
homes that are part of a homeowners association (HOA) sell at a higher price then homes without a HOA. To fulfill our purpose, LCOA strives to create a community that is both beautiful and enjoyable. Some of the areas of responsibility include financial and legal management, care and maintenance of common grounds and facilities, rules and regulation compliance, and annual meetings. LCOA and our members are governed by our Board of Directors
and our Governing Documents
. HOA assessments are paid annually; invoices are mailed to each property owner in January.
Each neighborhood has the option of forming an additional homeowner association (HOA). From a hierarchy perspective, these HOAs, of which there are eight, fall under the umbrella of LCOA. These HOAs may collect assessments and residents agree to abide by the HOA's governing documents, which may include bylaws, covenants, design guidelines and/or others, in addition to abiding by LCOA's governing documents.