Indiana HOA needs roof replacement advice

Started by GailL1 • 5 replies • 1572 views

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GailL1 (Indiana)
Posts: 1

Posted:

We are a 5-member volunteer board for an HOA. Town homes are approximately 10-12 years old now, so we want to do some early research on what language to include in the master Covenant on major maintenance expenditures (to be voted upon and filed in our local courts). We would like to see other "roof replacement rules" that have proven successful for other Indiana HOA's. Do we approach the homeowners with options like (1) have at least 2 official roofing reviews done when one of the (two) adjoining structures has roof tile problems or the unit experiences leaks, forcing the adjoining neighbor to replace his/her roof at the same time or (2) have a roofing special assessment collected annually for x-years until all units will be re-roofed as of say, year 20, or (3) a combination of the two? We would like to draft some logical, well-received options to present at our annual all-member meeting in September, 2015. We know roofing grade and color will have to be addressed also, but we think that should be easier than deciding how to pay for the repairs. Any suggestions will be greatly appreciated!

TimB4 (Tennessee)
Posts: 21,059

Posted:

Gail,

How to pay for the repair/replacement should be with the Associations reserves.

Has your Association ever had a reserve study done?

Reserves are where you put a little bit away each year to save and pay for an expected repair/replacement in the future. Without proper Reserves, you will need special assessments to pay for any replacements.

For more info on Reserves, see the following link to a thread in this forum:

Subject: Reserve Studies/Funds 101

Expecting that you are a condominium, I strongly recommend that you have a study done and fully fund the reserves.

PitA
Posts: 311

Posted:

DITTO DITTO DITTO

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Gail

Do not put the cart before the horse. Your roof replacement should have been part of a Reserve Study which appears was not done. First thing is you need a Reserve Study (which will address the roof replacement time/cost) then address the cost associated with.

Meaning get them all to agree that something will have to be done versus address the specifics like we will need roofs in 2020 and it will cost us so and so thus we must fund this now. Worry about the particulars (color, style, etc.) later.

DouglasK1 (Florida)
Posts: 2,046

Posted:

It sounds from your post like you are not even sure if the roof is the responsibility of the homeowners or the association. What do your documents say about the associations responsibilities?

Escaped former treasurer and director of a self managed association.

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