TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
On several recent threads MikeR15 has suggested that we read an Article title The HOA Gravy Train.
If you have taken the time to read it, you will see that the article isn't an anti-HOA article but an article about management companies effectively calling the shots while elected Board members sit by and allow it to happen. The Gravy Train spoken of is the management company’s confidence in the board to follow their every suggestion on how to “properly” run their own lives and the costs associated with it. The article even specifies that being self managed would create a gravy-train wreck. The article goes on, in my opinion, to make a mockery of "fiduciary duty."
One would typically gather that since MikeR15 has called your attention to this article that he is in favor of a self-managed HOA. However, in a previous thread (see last post on page 5), Mike stated that he doesn't waste time going to HOA meetings, he tosses ballots into the trash and that all he wants to do is pay the assessment and be left alone.
I'm not really trying to pick on Mike but he was the one who advocated reading the article about the gravy train and his previous comments help to make the point I desire to make. The article seems to advocate being self managed. Well, it takes individuals willing to become active in the process to make that happen.
For a little background: I am currently serving on a Board for a self-managed Association. Therefore, I guess our Association has caused a gravy-train wreck. However, contrary to the article, we use fiduciary duty to make decisions on what is best for the Association vs. what is best for just one member. Often, what is best for one member is what is best for the Association.
To get back on point, I do believe that Mike has stated the truth about many individuals who live in an Association: "We pay our bill and expect them [the Association] to leave us alone."
What many fail to realize is that if they don't become involved in the operating of their Association, be it professionally managed or self-managed, they allow those who are willing to be involved be the ones who will make the decisions that affect their life and property. Using my own Association as an example, at our last annual meeting we had 17 lots represented in person. Those 17 carried an additional 27 proxies for a total of 44 or 33.8% of the membership. Some may say that those are great numbers. Others may say those are terrible. My point is, imagine what changes could be made within our Association if the other 66.2% of the membership decided to become involved. Heck, for my Association, that's enough to change the governing documents.
My point is, if you don't like the way things are being done in your Association, and are not involved in the process, you need to take some of the blame.
If participation in your Association is similar to my Association, you might be able to make corrections from within simply by knocking on a few doors and collecting proxies. Imagine the changes you could make.
If you have taken the time to read it, you will see that the article isn't an anti-HOA article but an article about management companies effectively calling the shots while elected Board members sit by and allow it to happen. The Gravy Train spoken of is the management company’s confidence in the board to follow their every suggestion on how to “properly” run their own lives and the costs associated with it. The article even specifies that being self managed would create a gravy-train wreck. The article goes on, in my opinion, to make a mockery of "fiduciary duty."
One would typically gather that since MikeR15 has called your attention to this article that he is in favor of a self-managed HOA. However, in a previous thread (see last post on page 5), Mike stated that he doesn't waste time going to HOA meetings, he tosses ballots into the trash and that all he wants to do is pay the assessment and be left alone.
I'm not really trying to pick on Mike but he was the one who advocated reading the article about the gravy train and his previous comments help to make the point I desire to make. The article seems to advocate being self managed. Well, it takes individuals willing to become active in the process to make that happen.
For a little background: I am currently serving on a Board for a self-managed Association. Therefore, I guess our Association has caused a gravy-train wreck. However, contrary to the article, we use fiduciary duty to make decisions on what is best for the Association vs. what is best for just one member. Often, what is best for one member is what is best for the Association.
To get back on point, I do believe that Mike has stated the truth about many individuals who live in an Association: "We pay our bill and expect them [the Association] to leave us alone."
What many fail to realize is that if they don't become involved in the operating of their Association, be it professionally managed or self-managed, they allow those who are willing to be involved be the ones who will make the decisions that affect their life and property. Using my own Association as an example, at our last annual meeting we had 17 lots represented in person. Those 17 carried an additional 27 proxies for a total of 44 or 33.8% of the membership. Some may say that those are great numbers. Others may say those are terrible. My point is, imagine what changes could be made within our Association if the other 66.2% of the membership decided to become involved. Heck, for my Association, that's enough to change the governing documents.
My point is, if you don't like the way things are being done in your Association, and are not involved in the process, you need to take some of the blame.
If participation in your Association is similar to my Association, you might be able to make corrections from within simply by knocking on a few doors and collecting proxies. Imagine the changes you could make.