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Posted: 7/1/2015 11:56:46 AM EDT
I have been reading recent threads on GD concerning HOA's. Effective today, July 1st, a new law goes into effect here in Indiana that puts some rules and regulations the HOA's have to follow. The local newspaper had an article concerning a HOA that would not release financial statements to owners, and the HOA alledged there may have been "mis-appropriation" of funds by an officer. It is in the hands of an attourney.

https://iga.in.gov/legislative/2015/bills/house/1286#digest-heading

There might be laws in other states similar to this - I don't know.
My lady friend (sorry, photo won't load) has a condo in Ft. Myers, FL. I visit there several times a year, and was amazed that I couldn't take a whiz off her balcony, like I can at my own home - no HOA here.
Link Posted: 7/1/2015 11:58:05 AM EDT
HOAs have rules against superfluous apostrophes.
Link Posted: 7/1/2015 12:01:43 PM EDT
HOAs are for people who don't get enough intrusive nannying in their lives from government, and feel the need to pay for more.  
Link Posted: 7/1/2015 12:02:46 PM EDT

HOA; i'd never live under one, I love to own rental property under them.  

Link Posted: 7/1/2015 12:07:47 PM EDT
Can we get an HOA forum for all the people dumb enough to join one?
Who cares about HOA's?
Link Posted: 7/1/2015 12:08:43 PM EDT
HOA used mgt company, they/someone stole north of $1mm from HOAs.  Money was made whole and they went to jail.



Quoted:
I have been reading recent threads on GD concerning HOA's. Effective today, July 1st, a new law goes into effect here in Indiana that puts some rules and regulations the HOA's have to follow. The local newspaper had an article concerning a HOA that would not release financial statements to owners, and the HOA alledged there may have been "mis-appropriation" of funds by an officer. It is in the hands of an attourney.

https://iga.in.gov/legislative/2015/bills/house/1286#digest-heading

There might be laws in other states similar to this - I don't know.
My lady friend (sorry, photo won't load) has a condo in Ft. Myers, FL. I visit there several times a year, and was amazed that I couldn't take a whiz off her balcony, like I can at my own home - no HOA here.
View Quote

Link Posted: 7/1/2015 12:09:29 PM EDT
Well technically you cant be seen pissing anywhere so theres that.
Link Posted: 7/1/2015 12:10:09 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
HOAs have rules against superfluous apostrophes.
View Quote

Sorry, was whizzing off my balcony and derailed my train of thought. It's good to be the King!
Link Posted: 7/1/2015 12:13:07 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
HOAs have rules against superfluous apostrophes.
View Quote


This may come as a shock to some here, but MOST (admittedly not all) HOA boards just want to solve whatever problems come up with its members. Usually it's someone (the offending homeowner) who chooses to be obstinate over some issue or rule that he/she agreed to abide with. In other words, pull your weeds when pointed out, and pay your fees when due.

Many times HOAs get into financial trouble because the original developer set unrealistically low fees so that the property is more tempting to prospective buyers. The development sells out and nobody is willing to reset them to build a proper reserve to cover the future costs for replacing necessary equipment such as roofs or fencing or road repairs and such. When it's time for those repairs, a big assessment come and that's when all hell breaks loose.

As to the article, states that DON'T have those types of laws are the exception.
Link Posted: 7/1/2015 12:14:42 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Well technically you cant be seen pissing anywhere so theres that.
View Quote

Point well taken. In Indiana, that will get your picture on the sex offender list.
Link Posted: 7/1/2015 12:34:46 PM EDT
I moved to an HOA 4 years ago.

18 homes in a gated community my wife an I are the poorest couple in the neighborhood, but me manage and wanted a nice place for our kids to grow up.

I was the first person to get on the board and have stayed since. It is hard cause the management company has tried to go Nazi a few times, and have told them to back down a quite a few issues. The only things we currently enforce is Architecture guide lines, parking on the lawns, and weeds (has to be pretty bad for this). Usually only have to send out 3 to 5 notices a year which is good and  everyone usually self maintains pretty well.

Our finances are in order, hate to spend money on stupid stuff. Our fees are $138 a month (again only 18 homes in a gated community).

We take in just under $2500 a month. $500 goes to the management company (yes I have shopped around to cut costs), $750 to landscaping (yes trying to cut costs again) $500 to reserves, $300 for insurance and utilities, and the rest to the general fund for repairs and maint.

With in the next few years I want to try to abolish the HOA and go to a Co-Op for the gate maint, landscaping, and street maint. Should be able to reduce the monthly payment to $50 a month, but everyone might shit a brick if they get a special assessment for hundreds to thousands for a major repair. Damn whole thing gives me a headache every time I think about it.
Link Posted: 7/1/2015 12:56:49 PM EDT
I've gone thru 2 HOA's so far

First was annoying and mostly a waste of money although they did help keep neibors from trashing up their yards which is nice

Second is well worth the money for the things they do and are very laid back on letting us do what we want




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