DEFINITION of 'Simple Interest'. A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate by the principal by the number of periods. Where: P is the loan amount.
What exactly is an HOA or Homeowner Association? Who benefits from an HOA? Who is required to have an HOA? What kind of services does an HOA provide? The HOA or Homeowner Association. An HOA or Homeowner Association is a legal entity created to manage and maintain the common areas of a community. Typically these common areas consist of things like pools, clubhouses, landscaping, parks, streets and roads.
HOA Board's Powers and Duties. The governing body (or board of directors) of the HOA is responsible for the management of all aspects of the association. It may delegate management of certain activities to other persons or businesses, such as a property management service, but it must retain ultimate control.