MichaelT21 (Arkansas)
Posts: 501
Posts: 501
Posted:
I'm on the Board.
I own some PA equipment. It would cost a bit more to purchase than the association would like to pay $500 to own a PA system. I don't mind purchasing it and using it for HOA activities, but would like to get my expense re-couped from the Association. Can I rent the equipment to the association for them to use with HOA events?
The Association could rent from an equipment rental place. The daily charge is $140. I am thinking about charging the same daily fee to the Assocation. I keep track of the number of times that the Association has rented the equipment, and at what point they have paid rental fees equivalent to the purchase price of the system, I donate the system to the HOA.
In other words, rent to own. I'm not wanting to make a profit, but don't
I'm not sure how that would be perceived by other board members. I suppose I can ask, but thought I'd ask here first.
I own some PA equipment. It would cost a bit more to purchase than the association would like to pay $500 to own a PA system. I don't mind purchasing it and using it for HOA activities, but would like to get my expense re-couped from the Association. Can I rent the equipment to the association for them to use with HOA events?
The Association could rent from an equipment rental place. The daily charge is $140. I am thinking about charging the same daily fee to the Assocation. I keep track of the number of times that the Association has rented the equipment, and at what point they have paid rental fees equivalent to the purchase price of the system, I donate the system to the HOA.
In other words, rent to own. I'm not wanting to make a profit, but don't
I'm not sure how that would be perceived by other board members. I suppose I can ask, but thought I'd ask here first.