POA Development

Started by JoeB18 • 1 replies • 960 views

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JoeB18 (Georgia)
Posts: 31

Posted:

I am just trying to educate myself. When a Developer opens a property and then forms a POA, How do they pay the yearly expenses such as maintenance of common areas and pool if there are barely any houses built and people paying yearly dues?

JohnC46 (South Carolina)
Posts: 14,265

Posted:

The developer is paying. I have heard of several ways. Some developers will loan the POA the money to pay for the services then the POA pays them back as more owners/assessments come in. Other developers see it as cost of getting started.

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