HOA v POA - Georgia

Started by ErinC1 • 1 replies • 1164 views

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ErinC1 (Georgia)
Posts: 1

Posted:

I'm brand new to this forum and have spent several hours today (inside on a beautiful spring day!) looking over past posts.
Our HOA is having their annual meeting tomorrow and we are presenting an addendum to change over from an HOA to a POA. I see all of the benefits. However, in none of the posts I've read have I seen any cons to switching. Does anyone know of any?
Thanks in advance!

AugustinD
Posts: 5,144

Posted:

Erin, it seems there is a fair amount of discussion on the net. Did you see the following?
~~~
WHY NOT SUBMIT: One of the main reasons that developers did not initially submit their new subdivisions to the Act was a provision that required the developer to pay assessments for Lots not yet built out. Developers wanted to be exempt from assessments until a Lot was sold to a builder or homeowner. The Act has now been amended to allow developers to exempt Lots under certain conditions.

One point for associations to consider is that since the POA is statutory, it can be amended by the Georgia legislature to provide for new provisions that will govern your Association if it has submitted itself to the POA. Although this should be taken into consideration, the advantages of submitting to the Act probably outweigh any disadvantages of future amendments to the Act. It is also just as possible that future amendments to the Act may provide additional benefits to the Association.
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-- from http://www.hoa-attorneys.com/item_list.asp?subcat=32&subtitle=The+Georgia+POA+Act+%26+Your+Association

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