Dealing with HOAs
If you own a condominium in America, this post is for you.
HOA funds were developed in order to create a consolidated area in which individuals in a condo could have all of the maintenance taken care of for lower prices from the consolidated money. They were also created in order to provide a general and upfront space that allowed for one spokesperson to make sure that everything goes right.
However, HOAs are no longer as pretty as the cut lawn or the trimmed trees - if you are even getting that done in your yard. In fact, the corruption of powers has begun to get so bad, that it is expected, with a couple of new laws, these won’t exist anymore.
The reason why is because HOA individuals are not taking care of business like they should and condo owners are paying extra prices for it. You can look just about anywhere and read stories about HOA presidents manipulating for money, not getting the necessary work done or going behind the rest of the condo owners backs in order to fulfill their personal needs.
The result is that 2 new laws, the SB89 and SB100 are coming into effect and are going to completely break the developed structure that has been set up for HOAs. This means that the powers that be in HOA complexes are (hopefully) going to not be able to do anything except follow certain procedures and policies that are set and governed and in some places, HOA’s will not exist at all.
So, if you live in a condo and are paying an HOA fee, you need to check where your money is going. Make sure that you are not putting it in someone else’s pocket that doesn’t need it and that all of the fees are fair and are being paid for. You can also look at alternatives if you do not want to be part of an HOA. This may save you money and headache when it comes down to living in your condo.
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