The paper analyses homeowners associations (HOAs) in Russia. Systematization of the 20 years’ trends in housing and communal services reform is given. Problems of HOA formation are analyzed and three periods with different patterns of HOA creation are defined.

Time interval between early 1990th and 2005 is proposed to be the first period and is characterized as having a slow growth of HOAs, the absence of a clear campaign in favor of HOA creation, and a passive role of homeowners reluctant to form HOAs. The second period is defined from 2005 to 2011 and described as demonstrating a boost of the HOA formation and a big share of faked HOAs. The third period is designated from 2012 and featured with the liquidation of HOAs, both faked and viable. Overall it’s argued that the HOA dynamics is determined by stimulating bonuses or suppressing constrains. Homeowners’ self-organization and pure initiative are less pronounced.

Numerous problems that HOAs experience are referred to several groups and analyzed in detail. Among them are immaturity of tenants and lack of social capital in apartment buildings; wear and tear of the housing stock and heterogeneity of tenants’ composition; legislative obstacles and problems of law enforcement; monopolization and state capture of the vital for HOA life markets of housing and communal services as well as management companies.