|
| Tuesday, February 07, 2012
|
|
|
|
|
|
|
| You are not authorized to post a reply. |
|
|
| Author |
Messages |
|
JoyceS1
(Indiana)
Posts:125
 |
| 07/16/2006 6:21 AM |
|
Our reserves are underfunded. Our roofs (just one component) ended up needing replaced earlier than anticipated by 5 years, and there is just enough money to cover the replacement. We are in the process of correcting the underfunded Reserves by upping the maintenance fee to boost the reserves to cover the other components.
We have a handful of individuals who constantly believe that we each should “pay for our own” roofs (or whatever) if we don’t have enough funds to cover the cost through our reserves or monthly maintenance fee. (Our Covenants outline HOA responsibility for specific component maintenance, repair and replacement)
In this instance, I’m wanting to explain to them that if they have lived here for 15 years, they have used the roof for 15 years, contributed toward its replacement for 15 years; thus if they paid for it themselves instead of the Association, they would actually be paying more than the cost of the roof.
Similarly, someone who has lived here for 7 years, the previous resident has already contributed for 8 years of use. Therefore, the 7 year resident would be paying more since money has been contributed toward the roofing by the previous owner.
Since what I have outlined above doesn’t seem to register with some people, is there another approach that I can take to explain that they would actually be paying more even if they were allowed to pay for any component themselves?
|
|
|
|
|
RogerB
(Colorado)
Posts:4647
|
| 07/16/2006 8:51 AM |
|
Joyce, I presume you do not live in a single family home and therefore roofing is one of the items for which the HOA is responsible to maintain and replace. The answer to give to the handful of owners is "paying for their own roof" is not allowed by the Covenants. Their assessment payment includes monies for the reserve fund; part of which is allocated for replacement of roofing materials.
Don't get into discussions about who pays more or less and under what conditions. Actually everyone pays the same amount since someone who just moved in has purchased property which has paid assessments as long as anyone else's property. The assessment is on the property; the owner is responsible to make the payment.
|
|
|
|
|
RichardE
(Kansas)
Posts:5
|
| 07/16/2006 4:22 PM |
|
First of all I am under the assumption that your H.O.A. is resposible for all outside mainenance. Are these condo's? Call for a special meeting for a special assesment, I am not sure if I would agree with the time frame idea as far as to how much someone should pay, if they live there and your fees are not structured ahead of time to take care of normal upkeep (other than storms) than raise all the dues and have a planned structure for maintaining the property. You won't be very popular, but you get things done
Richard E.
|
|
|
|
|
JoyceS1
(Indiana)
Posts:125
|
| 07/17/2006 8:53 AM |
|
RichardE
Your first assumption is correct.
I think I may worry too much. I am constantly trying to find ways to communicate what HOA's are all about when in fact I'm probably dealing with people who only want to gripe about anything and everything.
We are addressing the underfunded Reserves through an increase in the monthly fee. Attempting to explain the HOA concept (and Reserves) to the people who "chose" to move into one without an understanding of them is probably a lost cause.
I need to focus on the job at hand and worry less about people's lack of understanding of the lifestyle they chose.
Thanks for your input. |
|
|
|
|
|
| You are not authorized to post a reply. |
|
|
General Legal Notice: The content of forum messages are from the posting member and have not been reviewed nor endorsed by HOATalk.com. Messages posted by HOATalk or other members are for informational purposes only, are not legal or professional advice and do not constitute an attorney-client relationship. Readers should not act upon this information without seeking professional counsel. HOATalk is not a licensed attorney, CPA, tax advisor, financial advisor or any other licensed professional. HOATalk accepts ads from sponsors but does not verify sponsor qualifications nor endorse/guarantee any sponsor's product or service.
HindmanSanchez Legal Notice: (For messages posted by HindmanSanchez) This message has been prepared by HindmanSanchez for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Members of HOATalk.com should not act on this information without seeking professional counsel. Please do not send us confidential information unless you speak with one of our attorneys and get authorization to send that information to us. If you wish to initiate possible representation, please contact an attorney in our firm. Our attorneys are licensed to practice law in the state of Colorado only.
Legal Notice For Messages Posted by Sponsoring Attorneys: This message has been prepared by the sponsoring attorney for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Readers of HOATalk.com should not act on this information without seeking professional counsel. Please do not send any sponsoring attorney confidential information unless you speak with the sponsoring attorney or an attorney from the sponsoring attorney’s firm and get authorization to send that information to them. If you wish to initiate possible representation, please contact an attorney in the firm of the sponsoring attorney. Sponsoring attorneys that post messages here are licensed to practice law in a specific state or states as indicated in their message signature or sponsor’s profile page. (NOTE: A ‘sponsoring attorney’ is an attorney that is a HOATalk.com official sponsor and is identified as such in the posted message or on our sponsor page.)
|
|
|
|
|
|
|
|