DelphiFAQ Home Search:
General :: Outside the Cube :: Finances :: Real Estate
About purchasing and investing in Real Estate. From mobile homes, studios to single family residences.

Articles:

This list is sorted by recent document popularity (not total page views).
New documents will first appear at the bottom.

Only the 40 most recently viewed articles are shown.
You can see the full list here.

Featured Article

Homeowners Association dues (HOA dues) raised unfairly - what can I do?

Question:

I bought a brand-new townhouse last year. The HOA dues were $19 / month. Now they have been raised to $59 per month. That seems not right. What can I do?

Answer:

Your development has made the transition from being managed by the builder to being managed by an external company. While under the builder's management, the HOA dues were kept artificially low. This is common among builders. They want to use low dues as a selling point.
Once all units are sold, the development is given to an external company. At this point, often unpaid bills will surface. Certainly no reserves were in the fiscal plan either.
That is the reason why your dues have to be raised. The old, lower dues, simply did not cover the cost.

There is not much you can do about it.

I have seen monthly dues as low as $9 / month. Obviously such a low fee can barely cover their administration cost. Certainly it cannot pay for anything like gardening, upkeep of private roads, gutter cleaning, shared water etc etc.



Generated 12:01:05 on Jun 24, 2018