The problem we have with the HOA where we live now is that a lot of the homeowners don’t pay their dues. If they ever go to sell the dues have to be brought up to date but a lot of the people either die or abandon their property and the dues are never paid.
We are having that problem now with foreclosures. I’ve never seen the backlog of dues as high as it is.
But if we manage to maintain our neighborhood, and can keep the remaining homeowners from letting their properties deteriorate, we hope we can eventually get those houses sold and collect the back dues.
In the meantime, we are cutting back on some services, and not replenishing our reserves as much as we would like.