Burren
Silver Baronet of the Realm
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I'd go a step further and say that HOAs are completely unnecessary and should be abolished country wide.
Home Improvement
- Thread starter Picasso3
- Start date
moonarchia
The Scientific Shitlord
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That would require an amendment, so no. Freedom of association. The legislation forcing a no drama freedom of disassociation would just force HOAs to focus on the services they offer, while removing their ability to fine and Karenify.
ToeMissile
Pronouns: zie/zhem/zer
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Our neighborhood has a voluntary HOA of sorts. People donate funds that are used for managing sidewalk landscaping, seasonal decorations, organize a few community events and the like. Everyone keeps their yards in pretty solid shape and look after things. We send $100 a year.
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I've got three condo's in an HOA that I cant realistically be a part of every meeting. They cover fuck all in repair expenses. The gutters need cleaning out. The gutter extensions that go under concrete walkways are crushed (shitty corrugated pipe thats at least 10 years old). None of that stuff is covered I found out recently. The pavement is in shambles. The tennis courts arent operable. The Interior pool is defunct. The exterior pool is "passable". The only thing that seems to be done "right" is the yard maintenance and the trash. Between those three condo's - I'm paying out roughly $725/month.
8 Units in that culdesac where theyre located, after trash and yard - with me being expensive on the costs of those services - it leaves roughly 910 towards HOA fees to spend on the "rest" of the association per month. Thats just 8 units out of 184 units in total.
Where the fuck is the money going? Thats my question. Thats at LEAST $3,600 a year out of my pocket that I think I'm being over charged. I've owned these condo's for almost a decade and I've never seen them touch the pavement. I've seen them work on "cleaning" the pool multiple times, but its always after a flood from where the nearby creek fucks them up because theres no proper flood control.
When I bought the places, the HOA fees were a third of what they are now. If I were to buy them today, at today's interest rates - the HOA Fees would put the property, in monthly costs, above where they are in rent on a 30 year mortgage. 15 year mortgage, and its not even feasible. Who the fuck would buy a condo there now, at those prices, with that HOA fee? Its insane.
I honestly have fuck all clue about what I can do about it. I've talked to people that live there and they dont know what to do. The condo's that are for sale arent selling because, again, who wants to pay more to live there than somewhere nicer? The HOA even signed up for a property management company, under a contract, with only a handful of people at the meeting. How much is the HOA paying for that company? Did they even bid it out?
I believe places like that need an HOA or a PM company - but the way that one is going, if I had a choice to exit my condo's out, I wouldnt think twice.
8 Units in that culdesac where theyre located, after trash and yard - with me being expensive on the costs of those services - it leaves roughly 910 towards HOA fees to spend on the "rest" of the association per month. Thats just 8 units out of 184 units in total.
Where the fuck is the money going? Thats my question. Thats at LEAST $3,600 a year out of my pocket that I think I'm being over charged. I've owned these condo's for almost a decade and I've never seen them touch the pavement. I've seen them work on "cleaning" the pool multiple times, but its always after a flood from where the nearby creek fucks them up because theres no proper flood control.
When I bought the places, the HOA fees were a third of what they are now. If I were to buy them today, at today's interest rates - the HOA Fees would put the property, in monthly costs, above where they are in rent on a 30 year mortgage. 15 year mortgage, and its not even feasible. Who the fuck would buy a condo there now, at those prices, with that HOA fee? Its insane.
I honestly have fuck all clue about what I can do about it. I've talked to people that live there and they dont know what to do. The condo's that are for sale arent selling because, again, who wants to pay more to live there than somewhere nicer? The HOA even signed up for a property management company, under a contract, with only a handful of people at the meeting. How much is the HOA paying for that company? Did they even bid it out?
I believe places like that need an HOA or a PM company - but the way that one is going, if I had a choice to exit my condo's out, I wouldnt think twice.
Burren
Silver Baronet of the Realm
- 6,875
- 11,955
Now that sounds like a good idea. Creates more community and pride in a neighborhood.
Burren
Silver Baronet of the Realm
- 6,875
- 11,955
moonarchia
The Scientific Shitlord
- 31,983
- 63,236
Reserves are usually the biggest part of the fees. The rest is going to that property management company. As a resident or owner you can get a copy of the contract that was signed and who else they had gotten bids from.