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"A new score, labeled “FiPHO,” has been introduced to help buyers and homeowners evaluate a condominium, co-op or homeowner’s association. FiPHO, which stands for Financial, Physical and Operational health, is a score from one to 100 that provides a snapshot of the association and its work ..."
It will be interesting to see how "effective" this new HOA scoring system will be.
Thankfully, I have gotten some great tips and advice from this forum in regards to purchasing a condo & home in a HOA.
Best advice I got: Check the financial records...ALWAYS. This helped me dodge a financial bullet when I attempted to buy my first condo several years ago.
"A new score, labeled “FiPHO,” has been introduced to help buyers and homeowners evaluate a condominium, co-op or homeowner’s association. FiPHO, which stands for Financial, Physical and Operational health, is a score from one to 100 that provides a snapshot of the association and its work ..."
It will be interesting to see how "effective" this new HOA scoring system will be.
Thankfully, I have gotten some great tips and advice from this forum in regards to purchasing a condo & home in a HOA.
Best advice I got: Check the financial records...ALWAYS. This helped me dodge a financial bullet when I attempted to buy my first condo several years ago.
Unless I missed something this appears to be an ad for the purchase of said report and other condominium documents.
I went to the source, the Washington Post article. It looks like it comes from a reputable association group. But I could be mistaken.
Yes, it's a reputable organization but I went to the same article and followed the links and tried to pull up a copy of a blank report but at that stage looked like I'd have to pay to proceed.
The problem with _any_ type of "score", is that the value tends to be quite opaque and if one doesn't have a good feel for what goes into the score, then it's easy to be mislead (intentional or not).
My favourite example is the "grade" that our local school district gives to schools. It turns out that one of the factors of that grade are the schools resources for students that face learning challenges. Fair enough, but I've communicated with countless parents who fixate on choosing a school with a "high grade", but what should be clear is that the parent of a student who is self motivated and high achieving has a very different set of criteria than a parent of a child that might have special needs. Those parents of high achievers may therefore pass on a school that grades B (instead of A+) when the factor that is causing the school to get the B is their lack of support of kids with special needs.
So it's an interesting concept, but I'd be highly skeptical unless I knew exactly what the criteria for the score was _and_ I knew what the population of those participating (voluntarily or not).
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