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SOOO frustrated. I never understood why so many people are advocates of raising condo fees. I have mentioned to them a zillion times that condo fees should not be raised because they determine the amount of money you get for your unit. But somehow they either don't care or refused to do anything about it.
There seems to be about 50% of the population that seems to expect the condo fees to be high. While I would like to reduce them. It isn't that I can't pay it... it just is that it makes the condo more competitive and unit prices higher. This isn't just for a sale but also for the amount of money your home is worth. (home equity etc)
Also, if there is one condo development in the area that has an outrageous condo fee, they will always want to match that condo... no matter what. It doesn't even matter what the budget looks like. We have a decent budget but they always want more.
I am so tired of fighting them.
Reserves are below requirements
Deferred maintenance that is needed
Costs go up all the time
For instance, I learned that one of the non conforming structures was put back to conforming by the board, which It shouldn't have done.
Wrong. That is exactly what the condo board is required to do. If a building is non conforming it can get insurance cancelled, and an order from the city to bring into compliance among other problems. It can reduce the value of all units and make all units difficult or impossible to sell, and cause inspections keep all units from selling. It can keep all units unable to be financed, as it effects every unit in the complex.
Wrong. That is exactly what the condo board is required to do. If a building is non conforming it can get insurance cancelled, and an order from the city to bring into compliance among other problems. It can reduce the value of all units and make all units difficult or impossible to sell, and cause inspections keep all units from selling. It can keep all units unable to be financed, as it effects every unit in the complex.
NO your wrong. The resident put the condo out of compliance and the resident should have paid to put it back. The condo paid. The condo never discussed it or told anyone about it. They just did it with my money without telling me about it.
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Umm..... no. Its basic math. And you can do it yourself.
Exactly.
See I guess everyone here suffers from the same disease... I guess they get it from the internet or something.
Just because a reserve study exists doesn't mean you need it.
I prefer the caution too but I feel like my group has lost their minds and is hoarding money. I also often suspect that they do this so they can use the money for unauthorized things. And that is one reason I don't like to have too much money hanging around.
For instance one of the loud *more money* people wants it because she wants all new lamps which, are not necessary. But she wants.
For instance, I learned that one of the non conforming structures was put back to conforming by the board, which It shouldn't have done.
Having a lot of money just means people can easily spend it.
I have to wonder a few things. Where are the rest of your community members in all of this? Are you the only one that has concerns? When you say "unauthorized things" what grounds do you have to feel that way? If you are concerned then you should run for the board or at least attend every meeting.
The financials should tell you what the big picture is and if you truly feel that money is being misspent then I would suggest a thorough review of your CC&R's and and then you can/will have firmer ground to stand on. If you feel there is a serious problem, you need to call a meeting and post that for other community members to attend and see where you go from there. Are monthly financials/quarterly published? You say that there is too much money "hanging around", you do understand the operating and reserve funds right?
You comment is puzzling. By virtue of the term non-conforming, one could assume that would suggest there are certain norms in the community. If that is the case and the structure was returned to conformity, I would have to think that would be the right thing to do. Again, in the absence of docs, it is impossible to state.
While I live in an HOA, and I honestly can say there have been some things done that I disagree with, we have a very hard working, conscientious, conservative board who stick to the better and spirit of our CC & R's and the financial health of our community is because of their diligence.
The board shouldn't have allowed the owner to go out of compliance in the first place. But of course when board's try to inforce anything, they are called Nazi's, meddlesome, nosey, no-life control freaks.
I have to wonder a few things. Where are the rest of your community members in all of this? Are you the only one that has concerns? When you say "unauthorized things" what grounds do you have to feel that way? If you are concerned then you should run for the board or at least attend every meeting.
As I stated above.. I am on the board. The other residents aren't aware of these things. I only found out because I joined the board and asked the resident. My board hasn't kept minutes since 2013. There is zero communication from the board. When I goton the board I thought we would do them but to my horror the person who claimed the secretary spot seems to think minutes are ... handwritten note that he keeps. I am currently praying that he brings a reasonable set to the next meeting after we informed him that is not appropriate.
Another issue... everyone who joins the board is super lazy. They don't seem to think they should have to do anything.
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Are monthly financials/quarterly published? You say that there is too much money "hanging around", you do understand the operating and reserve funds right?
I am not sure what you mean. Yes the monthly financials are put out for the residents. But they all believe, stupidly, that you can never have too much money in the reserve. The problem is that then unscrupulous trustees only have to transfer your money to the regular account to pay for something stupid when there is tons of money in the reserve. As we can see by them offering to pay to return the non conforming structure. In addition... that money doesn't get much interest... so it is of no value financially. It is better to keep the money with the residents. To a certain extent. There need to be a balance between having enough money and having too much.
I guess i have to clarify that the non conforming structure was put back by the board and that the board paid for it. I don't think the board should have paid for it.
As I stated above.. I am on the board. The other residents aren't aware of these things. I only found out because I joined the board and asked the resident. My board hasn't kept minutes since 2013. There is zero communication from the board. When I goton the board I thought we would do them but to my horror the person who claimed the secretary spot seems to think minutes are ... handwritten note that he keeps. I am currently praying that he brings a reasonable set to the next meeting after we informed him that is not appropriate.
Another issue... everyone who joins the board is super lazy. They don't seem to think they should have to do anything.
I am not sure what you mean. Yes the monthly financials are put out for the residents. But they all believe, stupidly, that you can never have too much money in the reserve. The problem is that then unscrupulous trustees only have to transfer your money to the regular account to pay for something stupid when there is tons of money in the reserve. As we can see by them offering to pay to return the non conforming structure. In addition... that money doesn't get much interest... so it is of no value financially. It is better to keep the money with the residents. To a certain extent. There need to be a balance between having enough money and having too much.
I guess i have to clarify that the non conforming structure was put back by the board and that the board paid for it. I don't think the board should have paid for it.
Stop comparing your poorly run or weird and illegally operating HOA to everyone else's. Apparently you don't have any experience in this either. But complaining there is TOO MUCH in reserves is not the way to go unless you can prove it to the penny.
Also "you" don't get to "authorize that".
First of all, EVERY expense line should have maintenance extrapolated out for the long term in the reserves. Like ROOFING. I can tell you EXACTLY when each building is projected to have the roof done and the amount anticipated.
You're not operating in any type of legal way, or at least in Florida you wouldn't be.
I don't even understand your "praying" thing. Apparently you have a community of apathetic owners. And how many renters are permitted in the bylaws? Versus what you actually have?
How did you even get ON the board if your owners don't know anything about what's going on. Just tell them.
My HOA fees have gone up $5.00 in the ten years I've lived here. And we voted for ONE assessment of $250 spread out over three months to have our atriums refurbished including all the concrete, rebar and railings.
We do things correctly and by law. We have a Property Management company, active board members and volunteers, CPA and Law firm working for us and CONSTANT maintenance, too. Because we keep the place in tip top shape. And that's how we get GOOD RESIDENTS. Not to mention screening them, too.
I bought here because they had $3 Million in reserves. And no deadbeats. During the 2008 crash yes, we did take a small hit for some units who walked away after say, a water heater broke and flooded and they didn't have the money for remediation. A VERY small hit. Because we had RESERVES.
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condo fees should not be raised because they determine the amount of money you get for your unit.
I don't even know what this means. And YES, if someone in your community has a mess outside, the board should FIX IT and fine them.
This is not rocket science, and there are HOA/CONDO experts you can use to get yourselves on track. If none of the residents are complaining about maintenance then what's the problem.
Wait.
You think that lower condo fees make unit prices higher???? How does that work? (it doesn't)
I bet you live in a politically Liberal area, though. People like spending.
Last edited by runswithscissors; 01-21-2018 at 07:51 AM..
NO your wrong. The resident put the condo out of compliance and the resident should have paid to put it back. The condo paid. The condo never discussed it or told anyone about it. They just did it with my money without telling me about it.
Exactly.
See I guess everyone here suffers from the same disease... I guess they get it from the internet or something.
Just because a reserve study exists doesn't mean you need it.
No, we just know how things WORK. NO need to get personal.
You were WRONG to not fine the resident and recoup the expense.
Isn't that sort of "duh"?
You became a member of an incompetent unethical board and don't have the skills to make them change, I'd say. No different than wanting to be a politician but not being able to "sell" your platform and policies.
Obviously. See it is this kind of ignorance that I am facing here. Obviously the monthly payment is what most people use to determine affordability (and banks too) and the HOA is included. As the HOA or taxes rise.. the unit price must fall to allow for the same affordability. Every time you see a condo with a high HOA you will see the unit prices be lower than other similar units.
$50s on a condo fee monthly can equate to 10K on a unit price.
Thank you for this thread. It has educated me on the downside of condo living, aside from the obvious. I had thought a condo would be the way to go in retirement. No outside maintenance sounded like a good thing for an aging women.
I can see now, if there is no parking and no pool and no gym and no clubhouse as part of the deal, I'm probably better off with a single family home.
Why do I feel this way? Because too much of my investment and equity rests on the quality of the management and board. They can be good or they can stink, and either way I am stuck with them and have no real recourse against them. That's simply too risky at this stage of my life.
Thanks again!
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