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| Wednesday, January 07, 2009
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| IHG Insurance (National Insurance Provider) |
| Providing Community Association Insurance for over 25 years: D&O Liability, Crime Products, Umbrella Coverage and Property Manager's Errors & Omissions Liability. |
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| Author |
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DexterT
(Maryland)
Posts:1
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| 11/03/2006 12:54 PM |
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I live in a 14 year old private townhouse community consisting of middle class, hard-working neighbors. Our problem is the community can be easily accessed via main county streets while we are asleep or at work, resulting in constant auto thefts and robbery attempts. This is a quiet, well maintained community with wonderful neighbors who look out for each other.
Recently, one of neighbors was killed in an auto theft incident at 3 in the morning by a tow-truck driver attempting to steal the man's car. If security gates were in place, the tow-truck drive woeuld not have been able to access the community to scope for potential cars to steal.
I would like input regarding the emergency use of the reserve funds to install security cameras and security entrance gates, with the requirement to replace these funds through an increase of HOA fees during the upcoming operating years. Please respond as I am desperate to help protect our community... |
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GeraldT1
Posts:0
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| 11/03/2006 1:20 PM |
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DexterT,
While your intention is admirable to protect the community, use of reserve funds is borrowing from Peter to pay Paul.
I live in a gated community and realize the benefit by some increase in security. However, the benefit is more from an increase in property value because of the perception of security rather than reality. To provide 24-hour attendant, camera and gated service you are talking about $115,000.00 operational expense minimum. Not including the cost of construction.
It is not appropriate to use reserve funds for a capital improvement. Reserves are for the maintenance and replacement of common and limited common elements.
Rather you should have a community vote on a gate OR security proposal. If it passes then have a special assessment inclusive of all operational and construction costs.
Instead of a gate, you should consider posting signs saying no trespassing, increase the front entrance lighting, and develop a neighborhood watch.
Best of luck!!
GeraldT1
NNJ |
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RogerB
(Colorado)
Posts:3724
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| 11/03/2006 1:37 PM |
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Dexter, in order to install PRIVACY gates the HOA must own and maintain the roads; establish a means of access for emergency vehicles; and not call them privacy gates. If you had had these gates SECURITY gates in place when that incident happened your HOA would be facing major liability. Privacy gates increase property values - not security; and if you could undedicate the streets back to private your assessment will increase greatly. The cost of the gates is minor; only the tip of the icebery  |
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