Posted on 07/08/2010 10:25:14 PM PDT by Tempest
There are other alternatives, that work just as well if not better.
Yeah, you are a 76 building complex. My grandparents were part of one that is twice as large.
Rather then paying someone the privilege to run the HOA show as you do here, they ran the show themselves. Funny how much you save when you are paying for the costs only, and not for management.
The duty to maintain the value of the property is best handled by the property owners themselves.
What % of the HOA costs do you think are pocketed by the guys that collect for it?
‘The guy owes us over 8 Thousand Dollars.”
What if the complex you worked together decided they didn’t want or need a HOA? Would they still owe you 8 thousand dollars?
Here’s how I see it. The fellow wanted to buy a property and use it not for himself but to make money. For whatever reason you are angry at him for using it as a rental, and want to get your share of the pie.
If I were him, I’d be seriously annoyed that I have to pay you when I have zero choice as to the matter.
Personally, I’d rather pay my bills myself, and deal with the companies. I’ve saved money on my gas, on my electricity on my internet.
What do HOA’s provide to justify the monthly fees they charge on everyone?
8000 is quite a bit of money. Are you saying that based on the entire complex you charge 800 thousand dollars a year?
As I said, HOAs suck blood from a stone.
Seeing as when my grandparents switched away from them, their bill was instantly cut in half, it was revealing.
Plus some much-needed building improvements finally got done.
Perhaps your HOA is more honest, I don’t know. But at least half was taken up by administration, by the person hired to do the job, and the staff that he hired to help him run the show.
I get the feeling most of my HOA’s money is kept. I doubt the illegals they have doing the riding mowers are really raking it in and that’s basically all that’s done. As I said earlier, they’re basically designed to raise the cost of housing to keep the undesirables out.
Again, the topic of this was rich people defaulting on their loans and I just came on to say that I've seen it with my own eyes, and not only have I seen some default, I've seen them just stop paying their bills.
He did have a choice. HE DIDN'T HAVE TO BUY A HOME WITH AN HOA FEE. What is wrong with you guys? After you buy a car, can you stop paying because you think the fee is too high? I'm astonished at some of these comments. We have pools and docks and trees ...who do you propose should pay for the upkeep? Hmm?
I’m curious, you don’t have to answer. But how much administration profit goes to you and whoever else runs the HOA? Is it really close to 50%?
I believe our Management Company doesn’t get paid enough for the crap they have to put up with.
NOT EVEN CLOSE.
Wait a second..just to clarify...I get nothing. ZERO. The propery management gets a fixed fee. Everything over what we spend goes into our reserve account. Everything is documented and open to homeowners to see any time they want. They are welcome to come to board meetings, which occur every other month. Nobody is making money except the property management company who doesn’t get paid near what I think he should for the crap he puts up with.
You do this as volunteer work?
I’m not arguing that he shouldn’t pay for upkeep. I’m saying that he should have the option, along with the rest of the property owners to get rid of the HOA.
There are many ways to pay for building maintenance. Condo associations comprised of volunteers who own a building are one of the better, because they have a vested interest.
Does that surprise you?
My HOA is the same way. We're self managed by volunteers from the neighborhood who are elected by the homeowners. The people on the board receive no compensation for their time. I'm currently serving as treasurer, and can assure you that it has not enriched my bank account.
Sorry for continuing the thread hijack.
You make it sound personal, like he owes YOU and not the HOA. Glad I don’t live anywhere near you.
I have no bills. My house is paid off and I don’t have blood-sucking HOA leeches pesting me.
You should really get over your class envy and stop being a liberal that lives their life in jealousy of what other people have.
“The rich most the time support the DNC and they certainly don’t support social conservatism.
“
That’s bullsh*t and you know it. The rich are no different than other people and some do and some don’t. Grow up.
So, 1 in 7 versus 1 in 12, how many of those 12 versus how many of those 7 exist? The total financial disaster is not held up by million dollar homes as much as those costing less than a million dollars. Your class warfare/envy is showing loudly.
I’m just as glad you don’t live anywhere near me.
Yes...it’s all volunteer work..and frankly, it’s not worth it because we have become a nation of Me me me me me me me.
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