Good day all. I’m no expert by any means. However, our community (I was on the board then). We opted into a POA just last year, finally! After several years, a couple hundred dollars and many, many hours of hard work. The board worked diligently to gather the necessary signatures in order to opt into being a POA. We also purposed several amendments to our covenants (in hopes to benefit the contributing members of the association)
The advantages far out weigh any disadvantages (ONLY one I’m aware of, if you’re a “deadbeat”). Although, an attorney is required to rewrite the changes/amendments to the covenants (for lack of proper terminology)
There have been hundreds of posts pertaining to and discussing the POA. I encourage you to read the all, every post. I have since become a little more knowledgeable (thanks to everyone who had posted) about what a POA is. I will help you and anyone else as often and as frequently as possible. Use the search feature/box, upper right hand corner, for additional threads previously written.
I will gather and post (later date) some information that will help you have a better understanding of what exactly a POA is. Property owners Association (POA) was establish by a gentlemen who was an attorney with a distinguished and renowned law firm and opened up his OWN firm and created the Georgia POA.
I respect the rules the HOATalk.com has posted therefore, I can not post additional information. I would like for you to contact me, via email, at
[email protected]. I will reply to that email with much more details.
Until then, continue forward. Opting into a POA will directly/indirectly affect every deeded member of your association.
Chuck W.
BTW- what was previously posted about being put at the “top of the list” is partially true, second to primary mortgages and secondary mortgages. The money owed to the association takes presentence over the majority of the creditors’ bills when the house =sells, as stated above the association has a much better opportunity to recoup the monies owed.