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Old 10-27-2012, 03:53 PM
 
Location: Myrtle Beach
3,380 posts, read 8,344,659 times
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Depends on the HOA or CCD. Thankfully I have lived in two places that have a governing body and neither one was a pain as far as I am concerned.
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Old 10-27-2012, 04:39 PM
 
5,048 posts, read 8,048,936 times
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Property Management companies and Association Management Companies are hired by the board. The board can tailor things as they like. Some boards want the Association Mgr to run the meetings. Some want the mgr to be standing by and to speak up when there is a breech in state, federal law, condo act or po act. Many professional association mgt. companies run their business a certain way. If that way is not attractive to a board, after interviews they might say, no not for us. They might find a smaller company or one starting out that is willing to do more tailoring.
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Old 10-27-2012, 05:40 PM
 
38 posts, read 61,906 times
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HOAs are parasites , they will actually ruin your life as you know it ...They are the devil !! They are outlaws.. no guiding principals no ethics ...If you think you bought a house or investment you didnt ,you bought them ...and they now own you ... If you are an invester you should figure out its hard not to buy in one of these communites..It took 3 years for me to find the right place .....The amount of 'so called 'depreciation is simply paid by you every month ....At any time they can change the rules to suit them and the money they need ...They will be looking to recoup money as the economy gets better .....beware ....I lived in a HOA for 10 years , It caused my divorse ,i lost a job and almost my sanity ... They even tried to block the sale... I now live on 5 acres and would not live in one of those ever.... never ...Good luck in your investments with any of these lawless entites !
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Old 10-27-2012, 05:48 PM
 
38 posts, read 61,906 times
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Really what part of GA is anywhere near Tampa?
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Old 10-27-2012, 05:50 PM
 
Location: it depends
6,073 posts, read 5,686,716 times
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Three years into a snowbird/condo life, I deeply appreciate the HOA where I live. The association is fully reserved; i.e, if a roof is halfway through its estimated life, they have half the cost of the new roof on hand. The rules are clear and unambiguous, and generally enforced all the way. I rely on trustworthy long-term year-round residents to guide me on board candidates; I appreciate that there people with the time and talent to manage the enterprise. Time is money, and I'd rather pay the money than spend the time on exterior maintenance. I have no interest or talent for it anyway.

A financially sick HOA leads to special assessments, that lead to delinquencies, that produce foreclosures and short sales and monthly fee increases. Don't want any of that.
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Old 10-29-2012, 09:33 AM
 
2,902 posts, read 3,667,988 times
Reputation: 3199
Quote:
Originally Posted by chi_tino View Post
Of the millions of home foreclosures since the real estate bubble popped, I don't believe there has been a single documented case where a homeowner who was current with their payments to the HOA was foreclosed on and had their house sold.

I would love to know how a HOA, management company and other parties could conspire to seize someone's home who was current on their payments. That sounds like a nice line of business I'd want to get into.

If the HOA and a realtor had a side deal, I could see some shenanigans happening. Realtors aren't known for their ethics. I was on a condo board that was negotiating with a short seller who owed >$10k in past assessments and legal fees. I discovered that a member of the Board was also the realtor representing that homeowner, and was privy to our negotiating position. She didn't think it was legally or ethically required to recuse herself or even disclose the information. When I found this out, I demanded her resignation or I was going to file a formal complaint at FREC, along with the Board suing her and her broker. We also rescinded our negotiated discount, which cost her client several thousand dollars out of pocket. Ouch.

Like TampaKaren said, it all comes back to the Board, not their employees.
Real easy: the management company comes up with schemes to create "arrearages" through junk fees. Then the management company and aligned HOA attorney collude to keep things that way on paper. A common practice known as the "priority of payment scam" involves the management company and HOA attorney diverting homeowner payments to the benefit of the management company and HOA attorney. The HOA client is the last, if ever, to get paid.

The example you pointed out above was interesting but I think you identified the wrong unscrupulous party. Sure the board member happened to be a Realtor. It wasn't because there was a Realtor involved, it was because your fellow HOA/condo board member was engaged in self-dealing. This happens quite often in HOA-land.
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Old 10-29-2012, 10:05 AM
 
26,867 posts, read 42,158,233 times
Reputation: 15130
Another Attorney Connected to HOA Scandal Found Dead - 8 News NOW

Here is the story I referred too...

But there are also HOA's who are targeting people with minor violations to take avantage of fines and collect more fees.

Last edited by bentlebee; 10-29-2012 at 10:17 AM..
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Old 10-29-2012, 10:55 AM
 
2,763 posts, read 5,132,472 times
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over all, i will never buy into a house in a community like that. If i wanna paint my house purple or have a shed, or whatever I choose to do with my property, I dont want to have to refer to the "rules" or abide by certain palate of colors for my house, etc. I've had friends in communities who can only paint their house a certain set of colors, if they want a shed, it has to be a certain dimension and color, etc. No thanks! I prefer non conformist housing.
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