Converting HOA to POA...

Hello,

We had a meeting with a property management company and one of the points they made was that we can convert our Homeowners Association to a Property Owners Association. Apparently a law was passed that if you are a POA that a residents home can be foreclosed on if they are significantly overdue on their dues. It was passed to give the Associations more power to get the fees. Not that we would go that far, but it sure would be more effective.

Have anyone else heard of this POA or have any information on it as well as converting to it?

Thanks
Tim
B.A.H.A.

I'm going to guess that you are in GA? There are plenty of postings on this site if you search. Also, you may be able to find something by checking this site's links to specific state laws. Should I be re-elected next month, our goal will be to change from an HOA to a POA this year. Our attorney is ready to create the amendment so that we can move forward with the 2/3 majority vote needed to amend our covenats.

You can also check the following website for a list of reasons to change to a POA if you are in GA: www.wncwlaw.com

I'm planning on attending the seminar also, this will be my third year. It is very informative and fun, you will learn a lot. This year's format is a bit different in that they will have some vendors and also provide lunch. Are you also receiving their newsletter, Community Advisor, they put out to retainer clients three times a year? This is very informative also.