StephenM11 (Indiana)
Posts: 3
Posts: 3
Posted:
I have sat on 2 HOA boards over the years and value their capacity. I currently have a property that has an amended plat, 10 lots, and a private road runs as easement thru the property. I am not a developer, I just have owned the porperty for years and life has taken me in a different direction. Lot 1 has the entry from the main road, and lots 9 and 10 have the turn around, so those 3 lots carry the largest maintenance. The road runs thru the middle of each property. Changing the plat is not an option. As I structure the properties for sale, I struggle to establish a HOA vs filed restrictive covenants because there is no common property and a very small group of people to maintain the cost and time of HOA operation. The only known common cost is private road maintanance. Any suggestions as to structure, or should I go ahead with a HOA. We all know how hard it is to get participation to run the operations, and management fees at this scale could be prohibitive.