82% of new Minnesota homes are in an HOA. A new state bill aims to protect residents.

May 12, 2026

A new Minnesota bill sets mandatory rules for homeowners associations (HOAs) to improve transparency and reduce conflicts. It addresses financial accountability, requiring HOAs to maintain reserve funds equal to about 25% of their annual budget for planned expenses. Special assessments cover unplanned costs and must be paid by members. Nonpayment can lead to foreclosure, though residents cannot be removed for it.

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Teresa Sjoquist

Teresa Sjoquist

+1-612-790-2271

Desroshers Realty Group/eXp

Desroshers Realty Group/eXp

Maple Grove, Minnesota

With over 32 years of real estate experience, Teresa has had the privilege of helping individuals and families navigate one of life’s most important decisions, buying or selling a home. As a long-standing professional in this industry, she brings deep market knowledge, seasoned negotiation skills, and a steady hand to every transaction. She takes pride in delivering high-touch service with honesty, accountability, and a personal commitment to excellence. Rooted in traditional values and driven by creating lasting relationships, she believes real estate is more than just property; it is about people, relationships, trust, and creating The Good Life.

Which Homes Can You Afford?
See Your Options
How Much Is Your Home Worth?
Find My Home Value