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BillyC (Alaska)
Posts: 2
Posted:


I would like to thank everyone that replied to my interest in getting grants for my building. I have looked at several options and it seems to all fall back on the home owners willingness to participate. We are the largest condo association in Alaska but our owner occupancy is only about 20%. I have seen very little interest from the out of state owners. I have always been against special assessments but I see I have no choice. Thanks again.
PetunkaM (Florida)
Posts: 1,009
Posted:
OK, check with the utilities also. Our utility company pays pays 15% on new - A/C units.
MelissaP1 (Alabama)
Posts: 13,836
Posted:
Make sure your HOA is indeed responsible for replacing the windows and not the individual homeowners. That would take different route altogether if it is. Otherwise, your in for the special assessment. Which isn't a bad thing if it's cheaper than purchasing/installing your own windows. If it's going to be a $200 per household to replace all the windows in the complex that is a good thing versus paying $300 - $500 out your own individual pocket. This fact may be what helps pass the special assessment to understand it's cheaper this way than individually. Good luck!

Former HOA President
TimB4 (Tennessee)
Posts: 21,059
Posted:
Quote:
Posted By BillyC on 09/20/2011 7:37 AM

I have always been against special assessments but I see I have no choice. Thanks again.

The best way to avoid special assessments is to ensure your Reserves are 100% funded. A Reserve Study is typically required to identify how much money needs to be set aside each month to fund the Reserves.

Here is a thread within HOAtalk on how to complete a reserve study.

Since your a condominium, you may want to have a study professionally done.

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