A homeowner's covenant is the agreement between those who buy residences in a particular development and the Homeowner Association. The HOA covenants, conditions and restrictions include rules on what a homeowner can do on his property or with his home.
The homeowner becomes a part of the HOA as soon as he buys property in the community. Examples of matters pertaining to the covenants include exterior paint colors, parking outside the garage and yard maintenance. The covenants, conditions and restrictions are legally binding and must be obeyed. The purpose of these rules is to keep the appearance and value of the properties up to par.