No payment plan options either lol, due July 1st.
HOAs are such a cancer.It's about 3% legitimate use and concerns, the rest of it is clique-y high school bullshit and desperation for any sort of power, no matter how petty.
Im guessing its a special assessment fee. Which Ive had when my HoA said they had to fix our roof for the townhouse unit I live in.I didnt think home insurance covered this? I am pretty sure I just pay insurance as part of my mortgage and this $10k comes from out of pocket
my best advice would be to make sure you have a high enough amount for special assessment fees in your insurance plan.
"Or else," can't possibly be legal, even with the arsenal of bullshit an HOA is allowed to pull.Idk lol they're threatening if you don't pay it in their PDF https://gamefaqs.gamespot.com/a/forum/8/86435e77.jpg
Did they say what it's for, or why there's such an unreasonable deadline with no method to pay it down over time?
Oh I should also mention they "lost" like 300k in reserve funds earlier thjs year because one of the board members accounts went inactive and got collected by the state treasury somehow?
Oh I should also mention they "lost" like 300k in reserve funds earlier thjs year because one of the board members accounts went inactive and got collected by the state treasury somehow?
I would rather live in a studio apartment for life than own a HOA house.
I'd probably be contacting the local news to dig into this.This. Sounds insanely illegal, even by the extremely low standards of what governments let HOAs normally get away with.
They are repairing your roof?Well the buildings roof, im on the 1st floor lol
I would rather live in a studio apartment for life than own a HOA house.Id be fine with that if I lived alone >_> this isn't even a house either, 2br condo unit
I'd probably be contacting the local news to dig into this.
So glad our house isn't in one. Number one requirement to our realtor was "No HOAs"
I didnt think home insurance covered this? I am pretty sure I just pay insurance as part of my mortgage and this $10k comes from out of pocket
Are the poster who said there was a jackass blocking your driveway?Yes <3 HOA never helped me. I just put a bigass cone in my driveway and don't have to deal with it anymore
Yes <3 HOA never helped me. I just put a bigass cone in my driveway and don't have to deal with it anymoreSounds like he is a drug dealer.
The parking deal is just so weird I don't even know what to think... my gf saw that neighbor recently pulling his car out of a different neighbors garage?? He also keeps getting NEW bmws. And has weirdos knocking at his door for 10 mins straight at weird hours
Sounds like he is a drug dealer.Thats what I assumed lol. Doesn't mean he has to be an inconsiderate asshole
How the fuck are HoAs even legal? Like you just bought and OWN your house but some uppity bitches in the neigborhood get to decide how you live there? Fuck that shit
They exist because someone needs to be in charge of maintenance and repair of common spaces, snow removal, etc.
So shouldn't the townships be in charge of that for stand-alone communties? And whoever owns the land the condos are on? I don't see why there needs to be a self governing agency in places like that
sorry you dont live outside of a HOA so that you can let your investment degrade and never have to take care of it until it falls apart around you.
Oh I should also mention they "lost" like 300k in reserve funds earlier thjs year because one of the board members accounts went inactive and got collected by the state treasury somehow?Fucking lies
In the case of condos, once the condos get turned over to the HOA, there is no land owner anymore
Well Im glad I bought my own house outside of something like that. Sounds like a nightmare to deal with
sorry you dont live outside of a HOA so that you can let your investment degrade and never have to take care of it until it falls apart around you.
Unlike previous research, which analyzed home sale prices of HOA vs. non-HOA homes, this study examined the percent change in a homes value over time. It then compared appreciation rates of properties in HOA and non-HOA communities.
Comparing a homes most recent sale price to its previous sale price, Robertson determined the Annual Percentage Return (APR) for each home in the random sample of three Counties selected.
The data reveal something unexpected by many in the HOA industry. According to the data, homes that are not governed by HOA covenants, restrictions and rules increased in value, on average, at a significantly higher rate than homes located in HOA-governed communities.
Put another way, properties in HOA-governed communities have a lower return on investment than homes outside the boundaries of HOAs.
And, as Robertson aptly points out, his data analysis does not factor in the payment of HOA assessments and fees over the course of property ownership. That, he says, would further reduce annual percentage return on investment for homes in HOA-governed communities.
In other words, Robertsons research offers more hard evidence that HOAs do not result in higher property values in relation to homes in non-HOA communities.
https://independentamericancommunities.com/2019/06/18/new-research-busts-myth-that-hoas-protect-property-values/Someone bootlicking HOAs should be taken as a joke.
Womp womp!
Got any other lies to peddle?
They exist because someone needs to be in charge of maintenance and repair of common spaces, snow removal, etc.
Yeah HOA suck, I hear they can basically steal your house by putting fines on you for small things, but charge huge interest then buy your home for like $1. It seems like a huge scam, but sadly they are most everywhere now.Obligatory:
I thought they existed because someone has to keep the "Wrong People" out of the neighborhood and letting the place fall to ruin.