PaulaR3 (South Carolina)
Posts: 42
Posts: 42
Posted:
Help!
Our HOA ordered a building Inspection in July 2021 which reflects our 12 story building built in 1965 is structurally sound but has some maintenance issues.
When the company inspected a sample of the exterior brick, they noticed two bricks were loose. As a result the company and board are recommending replacement of the entire brick which could run in the millions of Dollars. We could be looking at a substantial assessment after HOA fees were increased 15% in February this year.
Furthermore any assessment is supposed to be approved by the Majority of the Co-owners which a board member had an attorney call in to a meeting to say no approval necessary if it is an emergency. So waiting for information since July 2021, 400 hundred report (mainly pictures) provided September 2021. So nine months later where is the emergency?
So now realtors showing 7 units for sale are no longer showing our units because of the unknown assessment. The Board since last year has been spending excessive sums of money on our lobby and now one board member wants to replace the red brick with white brick to make it look new and increase property values. Our city historical society will not let them happen.
Even with substantial reductions in listing price nothing is selling. Several of the co-owners feel the lack of positive direction of the board will result in all owners suffering financially especially in property values.
Private owners are trying to educate others to stand up to the board.
Any suggestions would be appreciated? Possible
Thanks
Our HOA ordered a building Inspection in July 2021 which reflects our 12 story building built in 1965 is structurally sound but has some maintenance issues.
When the company inspected a sample of the exterior brick, they noticed two bricks were loose. As a result the company and board are recommending replacement of the entire brick which could run in the millions of Dollars. We could be looking at a substantial assessment after HOA fees were increased 15% in February this year.
Furthermore any assessment is supposed to be approved by the Majority of the Co-owners which a board member had an attorney call in to a meeting to say no approval necessary if it is an emergency. So waiting for information since July 2021, 400 hundred report (mainly pictures) provided September 2021. So nine months later where is the emergency?
So now realtors showing 7 units for sale are no longer showing our units because of the unknown assessment. The Board since last year has been spending excessive sums of money on our lobby and now one board member wants to replace the red brick with white brick to make it look new and increase property values. Our city historical society will not let them happen.
Even with substantial reductions in listing price nothing is selling. Several of the co-owners feel the lack of positive direction of the board will result in all owners suffering financially especially in property values.
Private owners are trying to educate others to stand up to the board.
Any suggestions would be appreciated? Possible
Thanks