Nearly done with HOAs

Started by ChrisE8 • 5 replies • 456 views

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ChrisE8
Posts: 454

Posted:

I'm now selling my other property in a HOA and will be down to just one HOA property, the place that is my current primary residence. It's a beautiful, well-run building with reasonable (by neighborhood standards) HOA dues and a delightful, professional staff.

I got the 2021 annual report a few days ago--a very sleek document showing various construction projects to upgrade the building. It was really well-done, like a Fortune 500 annual report.

"With Covid, we won't be having an annual meeting until later this spring." So no 2020 annual meeting? I don't care.

The 2019 financials were attached--approved in October 2020? I don't care.

"Please let the Board of Managers know of any questions by clicking here, and the Board of Managers will respond electronically." No building-wide email system. I don't care.

Maybe I'm too tired of dealing with HOA drama, or maybe since the building seems well-run, it's not worth raising anything.

All directors live in the building, the property manager isn't on the board, and dues are low and everybody who works in the building is great and the building is beautiful. So I live in Singapore or Hong Kong: a pristine environment without full democracy?

AugustinD
Posts: 5,144

Posted:

Is the Raffles Hotel open during this pandemic?

I had a drink there once, back in the 1980s.

ChrisE8
Posts: 454

Posted:

Quote:

Posted By AugustinD on 02/14/2021 12:07 PM
Is the Raffles Hotel open during this pandemic?

I had a drink there once, back in the 1980s.

Sorry, I figuratively live in Singapore or Hong Kong or maybe Liechtenstein (my remaining HOA is a nice place but not democratic, which I figure is like that).

The prior HOAs that I owned properties in ranged from Romania under Ceaucescu to maybe France today--ranging from totally oppressive and brutal to democratic, with a need to be an active citizen to get what you want.

SheliaH (Indiana)
Posts: 6,964

Posted:

Quote:

Posted By ChrisE8 on 02/14/2021 12:38 PM

The prior HOAs that I owned properties in ranged from Romania under Ceaucescu to maybe France today--ranging from totally oppressive and brutal to democratic, with a need to be an active citizen to get what you want.

Your last statement says it all - you need to be an active citizen to get what you want. Did it take you owning rental properties in two HOAs to finally figure this out? Oh, well, better late than never. If you're still buying rental properties, maybe you should stay away from those in a HOA community - it'll probably mean more money to pay for services the association would cover, but at least your blood pressure will remain normal.

You say the HOA community you actually live in is a good one - that's great, but understand it does take homeowners paying attention to things to ensure things run smoothly. The current board won't always be there and if you don't have homeowners like yourself taking the time to read financials and board meeting minutes, and perhaps attending a few once in a while, you'll end up with some variation of the last two you've been involved with. Much like local, state and federal governments. Homeownership isn't a spectator sport, no matter where you live - you don't pay attention, lots of stuff may happen

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

ChrisE8
Posts: 454

Posted:

Good points, SheilaH--thanks.

I am never. buying. another. rental. property. in. a. HOA. ever. again. Period.

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