DavidR26 (North Carolina)
Posts: 3
Posts: 3
Posted:
A little advice please.
Are deposits for new construction commonplace in ARB policies?
Our HOA is "renewing itself" after soem time of little to no actual activity. We're on track with a very well versed lawyer and gaining insurance, contacting landowner,s and involving the community and basically comfortably on a course to get ourselves straight.
Declarant Control period is over and CCR says the Board can change the ARB policies at their discretion. So far we have no real opposition and everyone is more or less on board During all of this we're rewriting our ARB policies and we'll send to all owners for comment. We've got about 15 houses built on the 70 lots of the HOA but we're growing.
So back to the question. I've been reading a couple local ARB policies and they both say Builders must put down a $1000 deposit and that when the builder leaves the worksite trashed or creates ruts in the roads, breaks signs, or whatever that the Board/ARB fines the builder and deducts the amount from the deposit.
What do you guys think about this and is it the way you've seen in your communities? I have the chance to effect this now and am looking for opinions. I have a great builder putting up a half dozen homes but I am constantly on him about the subcontractors leaving trash, running over a speed limit sign, and creating ruts when trucks pull off the roadway in order to turn around.
thoughts?
Are deposits for new construction commonplace in ARB policies?
Our HOA is "renewing itself" after soem time of little to no actual activity. We're on track with a very well versed lawyer and gaining insurance, contacting landowner,s and involving the community and basically comfortably on a course to get ourselves straight.
Declarant Control period is over and CCR says the Board can change the ARB policies at their discretion. So far we have no real opposition and everyone is more or less on board During all of this we're rewriting our ARB policies and we'll send to all owners for comment. We've got about 15 houses built on the 70 lots of the HOA but we're growing.
So back to the question. I've been reading a couple local ARB policies and they both say Builders must put down a $1000 deposit and that when the builder leaves the worksite trashed or creates ruts in the roads, breaks signs, or whatever that the Board/ARB fines the builder and deducts the amount from the deposit.
What do you guys think about this and is it the way you've seen in your communities? I have the chance to effect this now and am looking for opinions. I have a great builder putting up a half dozen homes but I am constantly on him about the subcontractors leaving trash, running over a speed limit sign, and creating ruts when trucks pull off the roadway in order to turn around.
thoughts?